THE FRENCH ARE COMING: FRENCH INVESTORS ASSURES YEARS FOR ZAMBIAN MARKET
FRENCH INVESTORS ASSURES YEARS FOR ZAMBIAN MARKET
PARIS,(Tuesday, February 9,2016) — His Excellency Mr. Edgar Chagwa Lungu, President of the Republic of Zambia has cheered French investors who attended three sessions he addressed here on the final day of his two-day official visit at the invitation of France President Francois Hollande.
Addressing the Movement of French Enterprises (MEDEF) at the group’s headquarters, President Lungu assured French investors of the liberal free-market business environment supported by a stable and peaceful political arrangement.
After the MEDEF main plenary session, the President met representatives of selected French companies investing in Zambia for specific representations. Among the key ones were Lafarge Cement, Airbus, the giant aircraft maker Itron, a leading water company, and Syndicate des Energy Renewables which facilitated a special session on energy investments into Zambia.
Itron Limited, offered to invest into the rehabilitation and management of the water sector in order to cut leakages from the current 60 percent to 30 percent within five years.
Airbus has announced that they will invest in Zambia’s aviation and aeronautical services as they partner with Zambia to establish its National Airline by the end of this year.
The President will later this evening attend interviews with France 24 TV and Radio France International respectively.
President Lungu told the investors that one of Zambia’s greatest selling points in the last 50 years has been its abundant peace and stability.
“You will never worry about your investment in Zambia as our recently enacted constitution and other legislation continues to protect property rights and prohibits unilateral expropriation of private property. Let me also assure you that our Judiciary provides fair adjudication of commercial disputes and ensures that the enforceability of contracts is a reality,” he said.
Zambia is a pioneer in the promotion of private sector investment due to our very liberal economic policies such as liberalised foreign exchange regime; easy of externalisation of profits; competitive energy tariffs, and availability of suitable labour force among others.
“We have an opportunity today for a win-win situation where you make a reasonable return on your investment while we develop our country and improve the lives of our people. My belief is that any meaningful investment must result in the uplifting of people’s welfare through equitable wealth distribution.”
Let me also emphasise that it is estimated that Zambia possess 40% of fresh water resources in southern Africa which can be utilised for aquaculture development among other things.
In the energy sector, there is enormous potential for investment opportunities to meet the country’s rising demand for power.
We are currently experiencing an energy crisis in Zambia due to over dependence on hydro-based power. However, this crisis has created new opportunities for investment in new hydropower sites in the north of the country; investment in alternative sources of energy such as solar, thermal, geo-thermal, wind and biofuels.
Government’s commitment to ensuring that your investment is safe in Zambia.
The President will return home on Wednesday, February 10, 2016.
SPECIAL ASSISTANT TO THE PRESIDENT
(PRESS & PUBLIC RELATIONS)