Ministry of Commerce Trade and Industry Permanent Secretary Mushuma Mulenga has urged the Zambian Diaspora in Australia and New Zealand to take advantage of the conducive business environment in Zambia and invest to contribute to the growth of a diversified and resilient economy.
During a virtual meeting designed to inform the Diaspora about investment opportunities in the Zambian economy, Mr Mulenga said the Zambian Government had created an investment climate that encouraged partnerships between indigenous and foreign enterprises.
Mr Mulenga said the government valued private sector investment and stood ready to support the Diaspora in exploiting investment opportunities in the priority sectors of manufacturing, agriculture, energy, mining, and infrastructure.
Zambia Development Agency (ZDA) Manager for Investment Promotion, Mr Samson Simwanda said Zambia’s improved ranking regarding the Ease of Doing Business in 2020 was a result of business reforms the country had undertaken.
He said Zambia’s ranking by the World Bank on the Ease of Doing Business as 4th in both COMESA and SADC and 5th in Sub-Saharan Africa proved that Zambia was succeeding in creating a conducive investment climate and urged the Diaspora to take advantage of the opportunities offered.
Mr Simwanda also encouraged the Diaspora to utilise investment incentives announced by the government in the 2021 National Budget.
And in his welcoming remarks, Zambia’s High Commissioner to Australia, Frank Bwalya noted that the initiative by ZDA to interact with the Diaspora and encourage them to invest would greatly contribute to Zambia’s vision to be a middle-income country by 2030.
Mr Bwalya said the Mission was doing its best to facilitate applications for Dual Citizenship so that individuals who lost their Zambian citizenship could have it bestowed and given a chance to invest in Zambia as citizens.
ZDA Director General Mukula Mukasa who was represented by Theresa Kampata, Director Legal and Board Secretary, commended all the participants.
He said the dialogue was a new chapter in attracting investors from the Diaspora and hoped the virtual meeting increased the desire of the Zambian Diaspora in Australia and New Zealand to invest back home.
One of the participants, Mr. Alexander Lawrence, president of the Lusaka Chamber of Commerce and Industry observed that by investing in Zambia one would be guaranteed of access to a combined regional market population of 800 million people in COMESA and SADC for goods and services.
The virtual meeting organized by the ZDA in conjunction with the Zambia High Commission in Australia held on 10th march 2021, was aimed at presenting investment opportunities in Zambia, giving information about government support to investors in the priority sectors and explaining the investment climate in Zambia. The meeting was attended by the Diaspora in Australia and New Zealand, members of business associations in Zambia as well as other foreign and local prospective investors.
