Zambia has called for accelerated strategic partnerships and investments that will contribute to the economic development of the nation.
Ministry of Tourism Permanent Secretary, Evans Muhanga, said such partnerships and investments should also play a pivotal role in the conservation of the natural and cultural resources.
Muhanga made the call during the investment promotion forum and soft launch of Zambia’s investment guidelines in Madrid, Spain.
He stated that the Zambian government had designed initiatives aimed at attracting investment to tourism destinations that are yet to be fully developed.
“The government has simplified procedures for conducting tourism activities, facilitating access to prominent tourism sites and developing essential infrastructure,” he said.
Muhanga stated that the government had given top priority to advancing the tourism sector in its development agenda, recognizing its potential to diversify the economy and reduce reliance on traditional exports.
“This is an opportunity to delve into the immense potential that Zambia offers and to explore the various avenues for investment in our burgeoning tourism sector,” he added.
The Permanent Secretary reiterated government’s commitment to creating a conducive environment that encouraged and supports foreign direct investment in the tourism sector.
He urged investors to consider Zambia, a beacon of untapped potential in the global tourism arena as the best destination for investment with its diverse landscapes, rich cultural heritage and abundant wildlife.
“Zambia boasts of a wealth of attractions ranging from the iconic Victoria Falls to the untamed beauty of the national parks, providing a diverse range of possibilities for investors seeking to be part of the tourism success story in Zambia,” Muhanga added.
Zambia Development Agency Director-General, Albert Halwampa, highlighted the reforms that had been implemented to enhance ease of doing business in Zambia.
Halwampa cited the creation of the Presidential Delivery Unit and the Public Private Dialogue Forum to address challenges to investing and trading in Zambia among others.
During the meeting, Investment Guidelines for Zambia were launched in collaboration with the World Tourism Organisation (UNWTO).
The investment guidelines would serve as a comprehensive roadmap for potential investors looking to contribute to the growth of Zambia’s tourism sector.
In launching the guidelines, UNWTO Executive Director, Natalia Bayona cited attractive investment incentives and strategic location which made the country a transit and trade hub among others as the main reason to invest in Zambia.
Furthermore, a joint letter of intent was signed for Zambia to host three events namely; the Education Summit, the Brand Africa CEO’s Round-Table Forum and a business and investment Forum in April, 2024 in Zambia where investment guidelines will be officially launched in Livingstone.
UNWTO Secretary-General Zurab Pololikashvili acknowledged Zambia’s tourism potential.
Pololikashvili urged investors to turn to Africa as the preferred investment destination and specifically invited the investors to travel to Zambia to attend the April investment forum.
The high level investment promotion meeting was attended by foreign investors, Zambia Tourism Agency Chief Executive Officer, Matongo Matamwandi, Vice President of the Madrid Chamber of Commerce, Spanish investors, Zambian private sector and senior government officials.
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