Japan visit to spur more FDI – Lungu
Published On December 21, 2018 » 4394 Views» By Times Reporter » HOME SLIDE SHOW, Latest News, SHOWCASE, Stories
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By CHILA NAMAIKO
PRESIDENT Edgar Lungu says his just-ended tour of Japan should yield more
Foreign Direct Investment (FDI) into Zambia, currently standing at
US$ 44.1 million.
Mr Lungu said yesterday Japan was a strategic trading partner for Zambia and he was
happy that during his three-day official visit to that country, he
was able to meet investors that promised to invest in key sectors of the
economy such as agriculture and manufacturing.
According to the Zambia National Broadcasting Corporation news monitored
in Lusaka yesterday, the President said the expected investment inflows, should lead to a spike in productivity would grow in all sectors of the economy.
Speaking shortly before his departure for Lusaka yesterday, Mr Lungu
said, after his visit, it was now up to individual ministries to
identify and explore areas of interest.
Earlier, he told the Zambia-Japan Business Forum that the US$44.1
million Japan’s FDI into Zambia was represented by companies such as
Hitachi Construction Machinery limited, Toyota Tsusho and Kansai
Plascon.
“In terms of trade, Japan serves as an important trading partner for
Zambia, serving as a destination for Zambian exports, and also as an
important source of imports,” Mr Lungu said.
He, however, said the current trade balance was in favour of Japan,
with major exports being copper and copper related products which
accounted for about 97 per cent of Zambia’s total exports to Japan
whilst Zambia imports vehicles which accounted for over 85 per cent of
imports from that country.
He said, as a way of deepening trade relations and embracing a
Japanese culture of continuous improvement, Government had established
the Kaizen Institute of Zambia limited with the support from Japan
International Cooperation Agency… www.timesepaper.com

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