Lungu urges Japanese investors to partner with Zambians

Banner 3
Banner 3

President Edgar Lungu has called on a visiting Japanese business delegation to consider venturing into partnerships with Zambians who have vast understanding of the country.

And the Japanese government is expected to spend about US$32 billion on developmental projects in Zambia and other sub-Sahara African countries. This will be in additional to improving trade on the continent.

President Lungu said Zambians have a clear understanding of the local environment and cultural norms hence partnerships will give the Japanese investors a better head start.

Mr. Lungu told the Japanese delegation that the country has adequate incentives to attract investors to invest in various sectors.

He was speaking at State House today when he met a Japanese delegation.

The President said his government was open for dialogue whenever investors feel dissatisfied with the incentives.

Mr. Lungu said government wants to create an environment where Zambians will not just be workers but co-owners of businesses.

The President has also urged the delegation to explore other potential areas of investment apart from the traditional mining and agriculture.

He has assured them that Zambia was a good destination for foreign direct investment (FDI) because of the country’s observance of the rule of law and democracy as evidenced in the recently held presidential elections.

And Japanese Ambassador to Zambia Kiyoshi Koinuma told President Lungu that the mission was vital for strengthening economic ties between the two countries.

Mr. Koinuma stated that the mission follows talks between President Lungu and a representative of the Japanese government on the sidelines of the African Union meeting in Ethiopia early this year.

He said the Japanese government will continue with big projects in sub Saharan countries including Zambia in the next five year saying about US$32 billion is expected to be spent.

He said there was need to promote trade between Zambia and Japan besides the development assistance his country is providing. 

He said the delegation’s focus was on energy, agriculture and mining which he said looks promising for investment in the country.

Mr. Koinuma has since reiterated his country’s continued support toward Zambia’s economic development.

The meeting was attended by President Lungu’s Advisor for Politics Kaiza Zulu, State House Permanent Secretary (PS) Emmanuel Chilubanama, Foreign Affairs Permanent Secretary George Zulu and senior state house staff.