THE international business community in Zambia should not worry about their investment in the country as businessmen enjoy asset securities and a viable liberalized foreign exchange policy, President Lungu has said.
He revealed that Zambia was currently ranked number eight in Africa and five and four in SADC and COMESA regions respectively as a top business investment destination.
President Lungu explained that the country holds a great potential of investment opportunities in various sectors which include agriculture, energy, tourism, and manufacturing.
He said this in France at a meeting attended by various executives who are members of the French Council of Business Investors. Zambia is ranked the eighth most competitive country in Africa on the Global Competitiveness Index. Recently, Forbes ranked Zambia as Africa’s 7th best country for doing business.
“My Government has devoted great effort to the provision of an enabling business environment for the private sector to thrive. You will never worry about your investment in Zambia as our recently enacted Constitution and other legislation property rights prohibit unilateral explopriation of private property,” President Lungu said.
He was accompanied to the meeting by Foreign Affairs Minister Harry Kalaba, Commence, Trade and Industry Minister Margaret Mwanakatwe and her Energy counterpart Dora Siliya.
The President assured the French business community of a secure and stable investment environment and ease of externalisation of profits.
Speaking after the meeting, press and public relations special assistant Amos Chanda said Energies for Africa Campaign had already expressed interest in the establishment of an alternative power source for Zambia as soon as possible.
Mr Chanda said Energies for Africa already had plans to connect up to 600 million people to alternative power supply by 2025.
And the president of the French Council for Business Investors Alexandre Vilgrain expressed delight at the Zambian Government’s initiative to share their aspirations of French investments in the country.
Mr Vilgrain said there was positive response from investors intending to take their businesses to Zambia after a powerful presentation of opportunities by the Zambian delegation.
He said there was already proof of Zambia’s potential with Lafarge Cement in Lusaka and the Copperbelt.
Meanwhile, Mr Chanda said some investors expressed interest in investing in telecommunications and aviation sectors.