News / Zambia targets US$2b in infrastructure FDI

Zambia targets US$2b in infrastructure FDI

🕔 January 23, 2011

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The Zambia Development Agency (ZDA) says it is focusing on attracting about US$2 billion in foreign direct investment (FDI) in infrastructure developmentthis year.ZDA director general Andrew Chipwende said the agency will focus on the development of roads, railways and energy and border facilities to improve infrastructure in the country.Mr Chipwende said Zambia is lacking in infrastructure which are critical to continued FDI and creating jobs in the small and medium-scale enterprises (SMEs).
ZDA Director-general Andrew Chipwende said it is crucial that Zambia keeps FDI inflow for infrastructure, adding that the programs will be implemented under the government's Private Partnership Program (PPP) initiative.
He said the PPP projects on negotiations for a 30-year $230 million concession of Ndola-Kasumbalesa toll road were underway.
"We will engage with Zambia Railways Limited, Rail Systems of Zambia and other railway projects and works will be undertaken during 2011. We want to continue to attract investment that can create linkages and enhance infrastructure development under PPP," Mr Chipwende said.
Lately, Mr Chipwende said the prospects for continued economic growth look bright and it is important to closely engage with both new and existing businesses.Sources:Lusaka TimesZambia Daily MailUKZambiansFollow us on twitter!

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