ZAMBIA is the 8th most investment competitive country in Africa which offers suitable investment incentives for investors, says Ministry of Commerce, Trade and Industry permanent secretary Kayula Siame.
She said Zambia offered both feasible and non-feasible incentives in ensuring that all investment was safe.
Ms Siame was speaking at the signing ceremony of a Memorandum of Understanding between the Zambia Development Agency and Government of the Qinggdao city of China.
“As you may already know, Zambia is the 8th most competitive country in Africa and we are looking forward to be the most competitive in this region,” she said.
Ms Siame however said Zambia still had to undertake more business reforms.
She also said Zambia looked forward to sharing some technological advances with China since it had for industrialisation.
Ms Siame hoped that the corporation agreement signed was going to be actualised as soon as possible.
“And today as you may all know we will be signing a corporation agreement and I hope this agreement will not just remain on paper but will be actualised in the shortest time possible,” she said.
Meanwhile, Chinese ambassador to Zambia Yang Youming said Zambia was China’s third largest trading partner in the Southern Africa.
Ambassador Yang said Zambia from July 1 2015 recorded 97 percent of exports to China.
“Bilateral trade relations increased from less than US$100 million to more than US $3.8 billion in 2014,” he said.
He said Qingdao city had a lot of investment opportunities which both Zambia and China would benefit from.
And ZDA director Patrick Chisanga said he was optimistic that the corportion agreement would be actualised as soon as possible.
Mr Chisanga said the agreement also had a provision of revitalising the Mulungushi textiles in Kabwe.