ZAMBIA is one of the most politically stable countries in Africa which had not experienced any form of civil strife since independence and, therefore, ripe for foreign business, President Edgar Lungu has said.
Concluding his two-day visit to Saudi Arabia yesterday, President Lungu guaranteed prospective investors from the Kingdom and the world at large the stability and favourable business environment in Zambia.
President Lungu said the Patriotic Front (PF) Government would remain devoted to promoting stability by upholding good governance and the rule of law as well as creating an enabling environment investment and accelerated economic development.
Speaking at the Zambia-Saudi Arabia Business Forum hosted by the Jeddah Chamber of Commerce and Industry yesterday, President Lungu urged the Saudi Arabian businessmen to explore trade
and investment opportunities in Zambia because the country is strategically located as a gateway into the wider African market through the Common Market for Eastern and Southern Africa (COMESA) and Southern African Development Community (SADC).
The President said his Government had continued to pursue the implementation of business reforms that promoted and facilitated the development of the private sector which had made Zambia ranked the 8th in Africa and 5th in SADC as well as 4th in COMESA in terms of the ease of dong business.
President Lungu told the business community in Saudi Arabia to consider exploring investment opportunities in the construction of transport infrastructure such as roads and railways.
President Lungu encouraged the Saudi investors to explore the possibilities of rehabilitating and upgrading the existing 1, 710 km long Tazama Pipeline that is running from Dar es-Salaam in Tanzania to Ndola in Zambia as well as the refurbishing of the pump station in the country.
The Head of State implored the business community in Saudi Arabia to consider coming to Zambia and develop and establish a modern fertilizer factory by taking advantage of the abundant raw materials.
He said road sector was one area that could attract foreign investment and that the Saudi Arabians should take advantage of the country’s political stability and peace to establish businesses in the country.
“My Government has deliberately developed multi-facility economic zones and industrial parks whose main focus is manufacturing and value addition. These zones and parks offer investment supporting infrastructure such as good roads, power, water, and attractive incentive package to facilitate your manufacturing activities. I urge you to come and see what we are offering and ultimately invest in these zones and parks,” President Lungu said.