Zambia is open for business, but local companies must also take initiative and actively seek investments from the South African market, said Zambian Finance Minister Felix Mutati.
“This meeting should address how businesses can work with each other. Zambians must not wait for South African firms to only come and invest, you must also invest in South Africa. Helping each other will help alleviate unemployment,” Mutati said at the opening of the two-day Trade and Investment Mission in Lusaka.
Mutati urged delegates and officials to strengthen commitments made by South African president Jacob Zuma and Zambian president Edgar Lungu during the latter’s state visit to South Africa. The countries agreed to deepen bilateral trade and investment relations.
Mutati said Zambia and South Africa are powerhouses in their own right and that Zambia presented an inviting business environment. He said a stabilised economy, predictable tax regime, stable power generation, enough water and good economic and business models are just some of the reasons to invest in Zambia.
According to Margaret Mwanakawe, Zambian Minister of Commerce, the country is working towards a double digit Gross Domestic Product in 2018, presenting more opportunities for businesses.
Mwanakawe said Zambia is serious about economic diversification and invited investments in the solar hydro-thermal bio-energy sector.
“Come and work with us, have a long-term view of Zambia, do not trade with us as trading partners but as value-addition partners. Our government will protect you and your business as you do business in the country,” urged Mwanakawe.
The mission will conclude with business-to-business meetings, round-table discussions and sector-specific site visits.