Govt woos American investors in cold storage


THE United States of America should consider investing in Zambia because the country has continued to boast of reliable investment environment coupled with political stability, says Foreign Affairs Minister Harry Kalaba.

Mr Kalaba said Zambia was lacking in cold storage facilities and it would therefore be beneficial for American companies to consider investing in cold storage plants.

He said there was a deficit of cold storage facilities in Zambia and that if American companies like Preferred Freezer Services (PFS) came to Lusaka, it was assured of yielding its benefits not only from Zambia but from the Southern African Development Community (SADC) and COMESA.

The Foreign Affairs minister was speaking in Los Angeles, California, last week when he held an investment meeting with a cold storage company, the Los Angeles Preferred Freezer Services (PFS),.

“Cold storage facilities are critical to economies such as Zambia and there is need for more investment in such facilities. There is a deficit of cold storage facilities in Zambia and if the Los Angeles Preferred Freezer Services could consider investing in Zambia, the company would be able to yield its benefits not only from Zambia but from COMESA and SADC regions,

“PFS should take a trade mission to Zambia for feasibility purposes as well as engage the USA Trade and Development Agency and it is my hope that PFS would soon take steps to invest in Zambia,” said Mr Kalaba.

Mr Kalaba said Zambia and the United States of America have had cordial relationships for a long time and that the investment growth from Washington should become a reality because of Zambia’s political stability.

Mr Kalaba, who is in the United States on an official visit, said US investments in Zambia would be safe because the country was enjoying political stability.

And PFS regional sales manager Chris Skraba said his company had been in the cold storage business since 1989 and had always looked forward to expanding its business by investing in countries like Zambia.

Mr Skraba said PFS had not yet registered its presence on the African continent and that it would be a good business opportunity to consider investing in the Southern African region.

PFS offers the most modern, state-of-the-art, full service temperature controlled warehouses in the United States and has a 1.3 million cubic feet warehouse in Perth, Amboy, New Jersey with a gross revenue of US3.6 million.

Lusaka and Los Angeles have sister-city relationship and Mr Kalaba implored the board to rekindle the relationship and create partnerships between the legislatures of the two cities.


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