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Minister of Commerce, Trade and Industry, Chipoka Mulenga, has emphasized Zambia’s focus on attracting investments that bring technology, skills, and capital.
Speaking on the country’s investment strategy on Tuesday, Mulenga highlighted incentives such as tax holidays and equipment exemptions to encourage foreign direct investment.
“The focus is on partnerships with locals for skill and knowledge transfer, ensuring Zambians benefit from incoming investments,” he said.
The Minister reaffirmed the government’s commitment to encouraging foreign direct investment, prioritizing partnerships and joint ventures with local businesses.
Mulenga assured that the government remained dedicated to creating a conducive business environment. “We are only focusing on getting investment in our country that has got technology, skill and capital that we do not have access to ourselves,” he said.
He explained that the approach aims to empower local businesses and create opportunities for meaningful engagement with foreign investors, ensuring that locals benefit directly through skills transfer, knowledge sharing, and profit participation.
Mulenga noted that Zambia was redefining its approach to foreign direct investment by prioritizing collaborations that deliver mutual benefits.
“This approach is expected to boost local participation in key sectors and drive economic growth. By focusing on collaborations that bring mutual benefits, we are aiming to create a more inclusive economy,” he said.
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