11 April 2016

Zambia: Mwanakatwe Woos Sri Lankan Investors

GOVERNMENT has urged Sri Lankan business executives to take advantage of the investment opportunities in the Multi Facility Economic Zones (MFEZs) in the country, as possible locations for industries.

Commerce, Trade and Industry Minister Margaret Mwanakatwe said trade and investment figures between Zambia and Sri Lanka had been extremely low hence, investing in the MFEZs would help enhance cooperation and cement bilateral relations for mutual benefits.

Ms Mwanakatwe was speaking at the Zambia- Sri Lanka business forum in Lusaka at the weekend.

"I wish to take this opportunity to urge you to invest in the MFEZs and industrial parks as possible locations for your industries whilst creating wealth and jobs for the Zambian people and you will still make a profit.

Investing in the Zones will enhance our cooperation and cement bilateral relations for mutual benefits, as you may be aware that our trade and investment figures have been extremely low," She said.

Ms Mwanakatwe said Government was hoping that business executives from Sri Lanka would start exploring opportunities and establish businesses in various sectors of the economy.

Zambia Chamber of Commerce and Industry (ZACCI) board member Laurian Haangala said there was need for increased knowledge sharing, networking and exploring of partnerships among Zambia and the Sri Lanka business community to further promote the expansion of trade and economic ties between the two countries.

Mr Haangala said Zambia's investment climate was characterised by a growing economy with generally stable macroeconomic environment, stable political system, investment guarantees and security, duty free access to regional markets and conducive laws and policies.

Honorary consul for Sri Lanka in Zambia Elmo Jayetileke said a senior official from the private sector tea Plantation Group of his country would be visiting Zambia next month to discuss the possibility of setting up a tea plantation in Muchinga Province.

Mr Jayetileke said two groups of experts who were working with a Sri Lankan business executive on mini hydro projects would also be visiting Zambia soon.

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