$129 million investment set for Zambia-China economic zone in Chibombo, says govt

Eleven companies are reportedly set to establish operations at the Zambia-China Multi-Facility Economic Zone (MFEZ) in Chibombo District, Central Province, with a projected investment of US $129 million.

The companies specialise in manufacturing batteries, solar panels, cables, and transformers, targeting both the local market and neighboring countries.

This development was disclosed on Friday by Ministry of Information and Media Director and Spokesperson Henry Kapata, during a tour of the MFEZ, including a visit to China Jiangxi International Corporation.

Kapata expressed government’s satisfaction with the level of investment being attracted to the zone, emphasizing its potential to spur industrial growth in the region.

He highlighted Jiangxi Copper Optoelectronics as one of the major investors, committing $140 million to its operations and expected to create 500 jobs.

“This development aligns with Zambia’s economic diversification agenda, which seeks to expand industrial capacity and reduce dependence on copper mining,” Kapata said.

He noted that Phase One of the MFEZ project is scheduled for completion next month and includes critical infrastructure such as roads, power supply, and factory buildings to accommodate incoming investors.

Kapata said the surge in investment underscores the effectiveness of Zambia’s development strategy and its commitment to policies that foster a favorable business climate.

“The MFEZ in Chibombo is poised to become a major industrial hub, driving local economic growth and positioning Zambia as a key industrial investment destination in Africa,” he added.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.