ZDA records increase in investment pledges
THE Zambia Development Agency (ZDA) has recorded about US$12 billion investments pledges and about 29, 000 projected employment in the first half of 2017.
The ZDA’s performance during the first half of the year 2017 has recorded an increase in both value of Investment Certificates of Registration issued and projected jobs compared to the same period in 2016.
ZDA public relations officer, Russel Haamubbi, said they issued 192 investment certificates in the first half of the year worth US$12.581 billion and 28792 projected employment.
Mr. Haamubbi said the agriculture sector recorded the highest pledged investment worth 7,024.6 and projected employment of 4,584 followed by the energy sector with 4,376.4 and projected employment of 14,555 thousand.
“The other sectors that contributed are the manufacturing, mining, tourism, transport, real estate, construction, energy, health, agriculture and Information Technology and Communication (ITC).
Of the investment certificates that were issued in the first half of the year, 45 enterprises have begun actualising their investments,” he said. Mr. Haamubbi said of the investments that were monitored in the first half of the year, US$236.39 million has been actualised.
He explained that the manufacturing sector had the highest number of actualised investments followed by construction, service and real estate sectors. Others were the energy sector, tourism, transport and agricultural sectors respectively.
Mr. Haamubbi said ZDA was projecting a further increase in pledged investments and projected employment by the end of the year owing to stable economic fundamentals and the political stability the country was currently enjoying.
“In addition, the ZDA has done a number of investment promotion activities both within the country and around the globe. It also facilitated a number of investors travelling to Zambia in searching for investment opportunities across sectors,” he said.
Meanwhile, the ZDA in collaboration with the Zambia Chamber of Commerce and Industry (ZACCI), the Lusaka South MultiFacility Economic Zone (LS-MFEZ), and Zambia’s High Commission to South Africa, is organising another Investment Promotion Mission to South Africa to attract investment and promote trade between the two countries.
Mr. Haamubbi said the mission was aimed at attracting investors that are operating in South Africa to set up plants in Zambia and partner with the local investors.
“The Investment Mission is expected to take place in November this year with separate promotional activities scheduled for Johannesburg and Durban consecutively,” he said.