Lungu appeals for Saudi investment

PRESIDENT Edgar Lungu has appealed for direct foreign investment from Saudi Arabia as this would contribute to industralisation of the country, job and wealth creation for the citizens of both countries.

The President said this when he met Saudi Arabic Minister of State for African Affairs Ahmed Kattan at State House yesterday.

The President informed Mr Kattan that Zambia had the vision 2030 and was implementing strategies such as the development of the multi facility economic zones, industrial parks, farm blocs and value chain clusters as means of industralisation and transforming the economy into a prosperous middle income nation by 2030.

The Head of State also acknowledged the cooperation between the two countries in areas of mutual interest at both bilateral and multilateral level and expressed Zambia’s desire to continue consolidating and deepening cooperation with Saudi Arabia.

“Zambia enjoys the warm bilateral relations and economic cooperation with the Kingdom of Saudi Arabia,” Mr Lungu said.

President Lungu stated that the relationship between Zambia and Saudi had grown strength and created opportunities for steady economic partnership.

“The relations have been further strengthened by exchange visits and enhanced support from Saudi Arabia in key sectors such as security, health among others,” President Lungu said.

Speaking earlier Mr Kattan extended the invitation for President Lungu to attend the Saudi Arabia summit which would be held next year.

He also called for enhanced relations between Zambia and Saudi Arabia and speeding up the actualization of agreements that were signed.