Sata unveils $4bn plan

By CLAVER MUTINTA
A MASSIVE US$4 billion is projected for this year in foreign direct investment (FDI) and other economic activities to support economic development in Zambia, President Sata has revealed.
This will be a giant leap in investments considering that from 2011 to 2013, Government’s actualised FDI was US$891,677,433.
President Sata says Government plans to mobilise the US$4 billion through the Zambia Development Agency (ZDA) by attracting investment into the multi-facility economic zones (MFEZs) and industrial parks to support light industry and exports in areas such as Choma, Chembe, Nakonde, Kasumbalesa, Kazungula and airports.
The President said this in a message posted on his Facebook page yesterday.
“Among other economic activities will be attracting investment in the identified tourism sites in the Northern circuit tourism corridor and Greater Livingstone; and development of infrastructure facilities in the Lusaka National Park,” he said.
“Intensifying efforts for the beneficiation of raw materials [value addition of agricultural and mineral products] is another avenue.”
He said the government’s focus this year will also include prioritising implementation of public-private partnership projects, especially in the road sector, airports and garbage collection, among others.
The President said Government will continue to foster a competitive business environment in order to maximise Zambia’s economic activities and thus create jobs and wealth for the people.
He said from 2011 to last year, Government’s actualised FDI was US$891,677,433.
The agriculture sector realised US$172,523,659; construction US$24,633,795; education US$3,845,586; energy US$91,136,000; and health US$1,743,289.
The information and communication technology (ICT) sector attracted US$34,242,020; manufacturing US$228,005,464; mining US$94,573,513; real estate US$74,775,569; service US$76,855,985; transport US$60,054,453; finance US$12,433,686 and tourism US$16,854,414.
The President said during this period, the actualised investment created 13,051 jobs.
“Similarly, our non-traditional exports have also been steadily increasing as follows: 2011 – US$1.8 billion; 2012 – US$2.8 billion; and 2013 – US$3.3 billion,” he said.