ZDA and ACCZ Forge Partnership to Boost Investment and Trade

The Zambia Development Agency has signed a Memorandum of Understanding with the Association of Chinese Corporations in Zambia to enhance investment and trade relations between the two countries. This agreement, signed during the inaugural ACCZ Economic and Investment Summit in Lusaka on 12 July, aims to establish long-term investment projects that will contribute to the economic development of both nations.

ZDA Director-General, Albert Halwampa, highlighted the significance of this partnership. “The symposium indicates investor confidence in Zambia, driven by good leadership and stable economic policies,” Halwampa stated. The MoU encompasses various areas of mutual interest, including trade and investment, infrastructural development, agriculture, mining, and technological advancement.

The agreement also aims to create special economic zones in Zambia, tailored to the interest of both parties. ACCZ will assist in identifying Chinese investors keen on establishing businesses in Zambia, while ZDA will collaborate with ACCZ to enhance operations and provide investment incentives. “We are ready to facilitate and ease all investor-related challenges,” Zambia’s Acting Minister of Commerce, Trade and Industry, Rodney Sikumba, said.

The two organisations plan to host business forums in both countries to promote Chinese investment and trade. “This symposium establishes a foundation for strategic business and economic interaction,” Sikumba added.

Cui Hailiang, a representative of ACCZ remarked that “Chinese enterprises are willing to support Zambia’s industrialisation and social development,” showing the support companies already have for Zambia and its industrial future.

The partnership will explore and promote Zambian products for export to China, aiming to extend the market reach in the Asian country. This collaboration signifies a strengthened bilateral relationship and mutual commitment to economic growth and development.