The Zambia Development Agency (ZDA) says the current energy crisis which the country is facing has harnessed great opportunities for people to invest in alternative sources of energy such as solar and bio energy.
According to a statement issued by ZDA manager communications and public relations Faith Musonda, Monday, ZDA acting director general Matongo Matamwandi was speaking during at the EXIM Bank Regional Conclave on India – Southern Africa project partnership.
Matamwandi said every challenge presented a business opportunity for an investor.
He said Zambia had unlimited investment opportunities in various sectors of the economy.
“The infrastructure development sector is another with various opportunities including the construction of grain storage facilities, real estate, health facilities, education and industrial structure,” said Matamwandi.
“In the tourism sector, the country has opportunities for the construction of 5 star hotels, convention and conference facilities among others.”
And Minister of Commerce, Trade and Industry, Christopher Yaluma said the India-Southern Africa Regional Conclave would provide a platform for Indian and the Zambian private sectors to identify priority areas and special projects for Indian investment and partnership.
“The India-Southern Africa Regional Conclave will, therefore, provide a platform for Indian and the Zambian private sectors and key financial institutions to identify priority areas and special projects for Indian investment and partnership, with a long-term commitment to Southern Africa,” Yaluma said.
“Government of the Republic of Zambia is expectant that this Conclave will result in more increased business linkages, increased partnerships and ultimately improve the Zambia and India trade and investments volume.”
He said Zambia had domesticated the SADC industrialisation strategy which to promoted diversification of production, among others.
“You may wish to note that Africa as a whole is focused on delivering its goal for inclusive and sustainable development through the Agenda 2063. In that regard, from a regional perspective, SADC has developed and prioritized the SADC Industrialisation Strategy. It is in this strategy that our desire to leverage the abundant and diverse resources, especially in agriculture and mining, as a means to accelerate industrialization through beneficiation and value addition are espoused,” said Yaluma.
“Zambia has domesticated the SADC Industrialisation Strategy through development of National Industrial Policy which focuses on promoting the diversification of production, facilitate the creation of inter-sectoral and inter-industry linkages, promote the establishment of cooperatives across value chains, promote the development of industry specific skills and facilitate the shifting of economic activity towards higher value-added activities to spur sustainable economic growth.”