Off the wire
• SA political parties commit themselves to tolerance  • SA ruling party warns against politics of violence  • Bulgaria's salaries, employment go up in Q1  • Chinese museums, libraries encouraged to develop cultural products  • Kenya's pyrethrum production to increase in 2016  • Guinea to re-evaluate British firm's mining permits over corruption  • Feature: Tattoo artists show off talents in Athens  • China, Serbia pledge more law enforcement cooperation  • 1st Ld-Writethru: Xi urges local authorities to advance supply-side reform  • 1st LD Writethru: India's ruling BJP to govern key NE state Assam  
You are here: 　 Home

Zambia receives 700 mln USD investment pledges in Q1

Xinhua, May 16, 2016 Adjust font size:

Zambia attracted over 700 million U.S. dollars in investment pledges in the first quarter of 2016, its investment agency said on Monday.

Patrick Chisanga, the director-general of the Zambia Development Agency (ZDA) attributed this to the country's conducive business environment.

He said the investment pledges represents a 150 percent increase when compared to the same period last year, according to the Zambia Daily Mail.

The investment pledges were in the energy sector which attracted 300 million dollars, manufacturing which attracted 209.4 million dollars, tourism which attracted 48 million dollars and the real estate which attracted 39.8 million dollars.

He however said the mining, transport and construction sectors accounted for less than one percent of the pledged investment during the first quarter of the year.

"The beginning of this year has seen a tremendous increase in new investment pledges into Zambia. This investment is going to create 3,000 jobs," he is quoted as saying by the paper.

The official has since urged politicians to maintain the peaceful image Zambia is known for ahead of the general election on August 11 this year. Endit