Zambia, Japan seal investment pact

ZAMBIA has signed a Memorandum of Understanding (MoU) with Japan Institute for Overseas Investment (JOI) to help Zambia attract more Japanese investment. The MoU was signed at the Zambian Embassy in Tokyo as the mission joined 36 embassies, 193 Japanese companies, foreign investment promotion agencies and international organisations into a network that would benefit Zambia. This would be done through disseminating information useful for Foreign Direct Investment (FDI). First Secretary for Press in Tokyo, Yotamu Mugara, said Zambia’s Ambassador to Japan, Ndiyoi Mutiti and JOI president, Kohei Nakanishi signed the MoU, Ms Mutiti was optimistic that through the operationalisation of the MoU more Japanese companies would invest in the country’s critical sectors of the economy. “Zambia appreciates the amount of Japanese support through Overseas Development Assistance (ODA). Zambia is now looking to have the Japanese private sector play a more active role and get into partnerships with the Zambian private sector,” she said. And Mr Nakanishi said he would work hard in assisting Zambia attract more Japanese investors. Mr Nakanishi said the MoU would result in deepening the economic relations between Zambia and Japan through facilitating sound and smooth development of Japanese direct investment. He said his country would facilitate activities such as economic seminars, research and analysis of information useful for Japanese Investors.