Zambia receives $700mln investment pledges in Q1

GMT 23:03 2016 Monday ,16 May

Arab Today, arab today Zambia receives $700mln investment pledges in Q1

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Lusaka - XINHUA

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.

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