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Zambia - Open for more German Investment Featured

Germany, Berlin October 15, 2014 – Zambia is open for more German investment, says Zambia Development Agency Director General, Mr. Patrick Chisanga.
Speaking during the German-Zambian Business Forum organized by the Zambian Embassy in cooperation with Amatheon Agri Holding and Afrika-Verein on Monday, 13 October, 2014 in Berlin, Mr. Chisanga urged potential German investors to seize the numerous investment opportunities in Zambia.
He said the Zambian government has targeted five areas of priority in terms of investment, namely agricultural, manufacturing, tourism, energy and mining.

Mr. Chisanga emphasized on the need to grow German foreign direct investment in Zambia

"Germany being a country with the largest economy in Europe, we want to see more investment coming from Germany. We are serious about extending our hands of welcome to new German investors," Mr. Chisanga said.

He said Zambia is one of seven fastest growing economies in the Sub-saharan Africa and the country has been achieving consistently annual GDP growth rate of about 6% and 7% for the past five years.

And in terms of Foreign Direct Investment, Mr. Chisanga said Zambia has attracted tremendous investor confidence, adding that in the last five years the country has attracted over US$7billion in new investment into Zambia.

Mr. Chisanga further said Government is implementing policies to create, encourage and protect a better environment for business investment and has also undertaken massive infrastructure investment that will spur national development.

He assured potential German investors that their investments in Zambia would be protected through various pieces of legislation such as the Zambia Development Act.

He went on to explain that the Zambia Development Agency established since 2007 acts as gateway into the Zambian economy.

Mr. Chisanga said that the Zambian government is ready to work with the German businesses to take advantage of the country's business opportunities.

And speaking earlier Zambian Ambassador to Germany, Mr Bwalya Chiti explained that Zambia is one of the most politically and economically stable countries in Africa, and because of such, foreign and local investors are assured of security of their investments and businesses.

He noted that even though the direct trade and business relationship between the two countries has greatly improved over the years, there was still a lot of room for improvement.

And German Investment and Development Corporation (DEG) Director for Africa, Mr. Josef Boven said DEG is ready to fund German and Zambian owned business companies in the private sector in Zambia.

"We are ready to fund more projects and also provide technical services to companies investing in Zambia," said Mr. Boven.

He encouraged more German companies to take advantage of the available funds and invest in Zambia.

The event that attracted over 50 business people drew participation from various sectors such as agriculture, infrastructure, telecommunications, construction and energy.

The just held German/Zambian Business Day was the commencement of events that the Zambian Embassy has embarked on to celebrate Zambia's 50th Independence Anniversary.
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