FDI can boost value of local resources - envoy

FOREIGN Direct Investment (FDI) can successfully and efficiently unlock the value of local resources, says French Ambassador to Zambia, Francois Goldblatt.

Mr Goldblatt indicated that FDI had improved local resources in many countries.

Citing Lafarge Zambia plc, Mr Goldblatt noted how the company was a good example of how FDI could successfully and efficiently unlock the value of local resources.

He pointed out that although there had been FDI injected in the company over the years, such as from the Commonwealth Development Corporation (CDC) and the Lafarge Holcim Group in the company, Lafarge had remained a Zambian entity ingrained in the fabric of the country’s society.

He said when he toured the Lafarge plant in the company of Ambassador of the European Union to Zambia Jacek Jankowski and Minister of Housing and Infrastructure Development, Vincent Mwale.

“I am very positively impressed by our visit here to Lafarge Company. First of all it is a success story of European investment in Zambia; this company has been here for more than 70 years and this company was growing together with Zambia.

“So we see this very positive synergy between the country and the European investment,” Mr Goldblatt said.

Mr Goldblatt was pleased that Lafarge Zambia was producing, paying taxes to the

Zambian Government exporting its product.

“I am very pleased that this company produces here; this company is in Zambia; pays taxes in Zambia and exports from here, from Zambia to the countries in the region, so this is a very inspiring example for other foreign investors who would like to come and invest in Zambia and develop here in Zambia,” he said.

And Mr Jankowski was pleased that 30,000 Zambians, including direct and indirect workers and their families, were positively affected by what Lafarge was doing.

He said it was a matter of pride to be at the plant because the contribution of Lafarge to the economy, employment and the future development of the country was huge.

“We are talking about hundreds and hundreds of employees, and foreign currency for Zambia through exports. We are also talking about expertise, the company’s knowledge, and social responsibility as well,” Mr Jankowski said.

Meanwhile, Mr Mwale urged the company to continue raising the bar in terms of the consistency of the quality of products coming out of Lafarge.

Mr Mwale said Malawi, DRC, Zimbabwe and other countries were importing cement produced from Zambia, which was good for the economy.

Lafarge Zambia Chief Executive Officer, Jimmy Khan, said the company was one of the first companies to be listed on the Lusaka Securities Exchange and had over 3,000 local shareholders. while