Zambia still best investment destination despite economic challenges: president

Zambian President Edgar Lungu said on Wednesday that the southern African nation still remains one of the best investment destinations in Africa despite current economic challenges.

The Zambian leader said the country has continued to record increased investment from foreign firms, an indication of confidence in the country's economy, according to remarks he made when he launched a new 3.5 million U.S. dollars showroom for Alliance Motors Zambia, a subsidiary of Tata Africa, the official dealers of Land Rover, Discovery, Range Rover and Jaguar vehicles in Zambia.

"What we are witnessing today is a confirmation of what I believe that Zambia is on its trajectory of rebounding economically. We are humbled by Tata Africa and indeed Jaguar Land Rover for your confidence in our economy," Lungu said, according to state broadcaster, the Zambia National Broadcasting Corporation.

According to him, the investments in the country's economy confirm that there was a brighter future for Zambia as the best destination for investment despite crusades orchestrated by critics aimed at discouraging foreign investment.

The country, he said, requires increased investment in order to create jobs for citizens, adding that the private sector was the engine of economic growth for any country.

He pledged his government's commitment to provide a conducive environment so that businesses could continue growing. Endit