Zambia attracts 1.6bn euros in investments - HH

PRESIDENT Hakainde Hichilema says the EU- Zambia economic forum which has attracted over 1.6 billion euros worth of investment into the country is the first of its kind since 1964, sending a clear global message that Zambia is serious about achieving economic success.

Mr Hichilema says the economy can only become strong if Zambian businesses are successful.

“European governments are powerful because of their powerful businesses. If you want a strong economy, you have to allow Zambian businesses to grow and prosper as that is the only way to achieve sustained economic growth that will enable job creation and taking care of the needy in our society.”

President Hakainde said Zambia must grow but in a green sustainable way through the adoption of safer climate friendly technologies to avoid harming future generations.

The President says he is confident that the EU-Zambian economic forum will lead to stronger business partnerships as the country has attracted over 1.6 billion euros worth of investment in the energy and agriculture sectors among others but suggests increasing the investment to over five billion euros over a specified period.

Mr Hichilema has called for increased opening of the European Union market for Zambian businesses to trade and called on Zambian businesses to increase exports into Europe by working with European businesses.

He reiterated that corruption is a python that constricts economic growth.

Meanwhile, EU Commissioner for Agriculture, Janusz Wojciechowski , says Zambia and EU can enter into mutually beneficial economic agreements to sustainably trade between Zambia and the EU for improved food security and regional integration.

Mr. Wojciechowski, says harmonisation of regulatory environment is key to growth of trade between the EU and the African Union calling for better building of public private sector partnerships anchored on agro ecological green businesses that emphasise value addition in the agribusiness sector.

He has called for utilisation of digital services to ensure sustainable transformation of the agricultural sector. The EU commissioner said Zambia can count on the European Union to achieve robust economic growth and resilient food systems that promote food and nutrition security.