Making the case to invest in Zambia
(Lusaka-Geneva) – The International Trade Centre (ITC) held the PIGA investment promotion event ‘Investing in Zambia’ on 13-14 September 2018 in Lusaka, Zambia, within the framework of the Partnership for Investment and Growth in Africa (PIGA) and on the sidelines of the World Export Development Forum (WEDF).
The event gathered more than 120 participants, including 50 Chinese companies representatives interested in investing in the agro-processing and light manufacturing sectors in Africa and in exploring new business opportunities in Zambia. It provided a unique platform for them to better understand Zambia’s economic development, investment policies and business environment.
Delivering opening remarks at the event were the Minister of Commerce, Trade and Industry of Zambia, Christopher Bwalya Yaluma; ITC Deputy Executive Director Dorothy Tembo; the Chinese Ambassador to Zambia, Yang Youming; and Andrew Ockenden, Acting Head of the United Kingdom of Great Britain and Northern Ireland’s Department for International Development (DFID) Zambia.
Minister Yaluma said Chinese companies have expressed interest in investing in Zambia due to the conducive investment environment.
The event included presentations on investment climate and sharing of best investment practices by Chinese investors based in Zambia, the pitching of three large projects and field visits to two Chinese investment projects near Lusaka.
‘The PIGA project shares the same objectives as and directly contributes to Zambia Vision 2030, as it seeks to increase jobs and local development through foreign investment and business partnerships in the agro-processing and light manufacturing sectors in Zambia,’ Ms. Tembo said.
Zambia Vision 2030 identifies investment promotion as a key strategy to becoming a prosperous middle-income nation. It prioritizes attracting foreign direct investment in productive sectors to embed knowledge and technology among the local people.
PIGA supports agro-processing and light manufacturing opportunities in Ethiopia, Kenya, Mozambique and Zambia. Funded by DFID, PIGA aims to increase inclusive and sustainable investment in Africa to drive economic growth, job creation, and socioeconomic development.
Notes for the Editor:
Further background information on the Partnership for Investment and Growth in Africa:
About ITC – The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists micro, small and medium-sized enterprises to become more competitive in global markets, thus contributing to sustainable economic development as part of the Sustainable Development Goals.
For more information, visit www.intracen.org
About CADFund – CADFund is an independently operated fund whose primary objective is to support Chinese companies in cooperating with Africa. It was established as an outcome of the Beijing Summit of the Forum on China-Africa Cooperation in November 2006. CADFund aims to achieve mutually beneficial cooperation between China and Africa, filling the gaps between traditional aid and loans.
About DFID – The Department for International Development (DFID) is the government ministry responsible for leading the United Kingdom’s work to end extreme poverty. DFID works to end the need for aid by creating jobs, unlocking the potential of girls and women, and helping to save lives when humanitarian emergencies hit. DFID is the donor of the PIGA project.
About CCPIT – China Council for the Promotion of International Trade (CCPIT) is a national foreign trade and investment promotion agency in China founded in 1952. The major responsibilities of CCPIT include implementation of major national development strategies, promotion of foreign trade, bilateral investment and economic and technological cooperation, and carrying forward cooperation with overseas trade promotion counterparts.
Sylvie Bétemps Cochin
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