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Zambia projects increased investment in 2017

Xinhua, May 5, 2017 Adjust font size:

Zambia's investment agency has projected increased investment this year compared with last year, state media reported on Friday.

The southern African nation expects to attract about 4.5 billion U.S. dollars in investments this year compared to last year's 3.4 billion dollars.

Patrick Chisanga, director-general of the Zambia Development Agency (ZDA), said the flow of foreign direct investment into the country was expected to increase after last year's general elections, adding that the figures for the first quarter of the year were encouraging.

"We have a number of proposals in the ranges of 1.5 billion dollars and 2 billion dollars with some of the being mainly in the energy sector," he is quoted saying by the Zambia Daily Mail.

According to him, the government's prioritization of the energy sector has contributed to the investors' community to be receptive.

The investment agency, he said, will continue to harness foreign direct investments in the priority sectors such as agriculture, manufacturing, energy, tourism and mining, adding that the prospect for a turnout in the country's economy this year has renewed investor confidence. Endit