FAIR, EXPO MUST PRODUCE FRUITS

PRESIDENT Edgar Lungu and his Democratic Republic of Congo (DRC) counterpart, Felix Tshisekedi, were in Ndola this week to grace the 2019 Zambia International Trade Fair. On Thursday, President Lungu was at the Copperbelt Investment Exposition at Levy Mwanawasa Stadium. The two important exhibitions have come at a time Zambia is thirsting for investment in various sectors of its economy. For many months, the Copperbelt provincial administration has been publicising the expo, wooing investors to the region. Finally, the expo kicked off on Monday with numerous exhibitions aimed at highlighting the region’s great potential for investment in various sectors of the economy. It ends tomorrow. The event is a great opportunity for the private sector to sniff for opportunities in mining, agriculture, energy, tourism, manufacturing and other sectors. Government is currently pushing the diversification agenda aimed at weaning Zambia from dependence on copper mining to agriculture, which is more sustainable. This is reflected in the expo’s theme of “Broadening the Economy of the Copperbelt through Investment.” During his time at the expo, President Lungu said Government was looking for serious investors who have the interest of the people of Zambia at heart. He said time had come for Zambia to redefine the future of the Copperbelt instead of just looking at it as a mining region. We join the President in assuring prospective investors that Zambia is an investment paradise with favourable policies aimed at safeguarding the interests of the business sector. There is no dispute that the expo is an important forum of attracting new investments into the region. Luapula Province, which hosted the first ever expo in July, 2017, has demonstrated that it is possible to attract investment into the region. Already, provincial minister Nickson Chilangwa has said the province has attracted about US$5 billion in investments in various sectors. Already, land has run out along the Lake Bangweulu beach in Samfya, the region’s tourism hub. After the expo delegation after delegation has been flocking to Mansa to meet the provincial administration to discuss development. In Chembe, Mansa Sugar Limited has started harvesting sugar cane in readiness for the production of sugar, Sunbird has planted vast fields of improved cassava for its ethanol production project. There are numerous projects that are at various stages of implementation, and Mr Chilangwa and his hard-working investment team are at the Zambia International Trade Fair to share this information. We are sure that the Copperbelt provincial administration has had time to learn a few lessons from their Luapula counterparts. It is encouraging that Copperbelt Minister Japhen Mwakalombe has reported that 83 companies registered to participate, out of which three are foreign. We strongly believe that the expo will produce some serious investment pledges, which the provincial administration will have to follow up with zeal. Expos have been a major driver of regional development in countries like China where they have been used to woo investment in the key sectors. For example, most infrastructure development that has taken place in China in the last three decades has been financed with resources raised from local investments. Provincial administrations own industries and have invested heavily in the transport, energy, manufacturing, agriculture and tourism sectors. They also own construction companies, some of which are undertaking big road and structural construction projects in Zambia and other African countries. Equally, the international trade fair has the potential to open new markets and create new opportunities for investment in non-traditional sectors. The mega show, which opened its gates on Wednesday and is ending on Tuesday under the theme “Inclusive Growth through Entrepreneurship,” is the biggest international exhibition in Zambia that promotes trade and investment. The fair plays a focal role as a platform for promoting cross-border trade and attracts participation from both local and foreign exhibitors. We therefore expect both of them to translate in increased investment in non-mining sectors and create jobs for Zambians, besides spurring economic growth.