Chongwe industrial park commissioned
President Lungu reiterated government's commitment to continuing private sector participation in the country’s economy to contribute to the industrialisation agenda.
Mr Lungu said this yesterday in Chongwe’s Mpande area where he commissioned the $500 million China National Building Material Zambia Industrial Park (CNBM).
The CNBM Zambia Industrial Park has its own mining area of 107.99 square kilometres and 25 years of mining rights.
The President said the project which had so far created over 400 direct jobs and expected to create more than 2000 once completed could not have come at a better time than now when the PF government had launched the national industrialisation policy aimed at promoting national investment.
Mr Lungu explained that the national local content strategy which is part of the national industrialisation policy was aimed at promoting inclusive growth and sustainable development through value addition by increased utilisation of locally available goods and services in growth sectors.
The President said his government's policy was to support manufacturing through initiatives that encouraged secondary processing of raw materials.
Mr Lungu noted that CNBM was clearly supporting Government to actualise the policy to add value to the country’s abundant natural resources.
He said Zambia's broad spectrum of natural resources such as limestone and clay presents excellent investment opportunities in construction and mineral processing. “I, therefore, want to take this opportunity to urge companies in the private sector to take advantage of the prevailing conducive business environment and venture into value addition in manufacturing," President Lungu said.
This, he added, was the only way we are going to create wealth, employment and increase our foreign exchange earnings as a country.
President Lungu reiterated his government’s commitment to continuing facilitating private sector participation in the economy in order to contribute to the industrialisation agenda of Zambia. And speaking earlier at the same ceremony, CNBM chairman, Song Zhiping said the setting up of the industrial parN by the &hinese firm was a demonstration of a traditional and far-reaching friendship between the two countries.
Mr Zhiping thanked the Zambian government for supporting the establishment of the manufacturing plant and said once completed, the industrial park would employ between 20003000 direct jobs for the locals.