CHIMANSE

By  JAMES KUNDA-

FOREIGN Direct Investments (FDIs) inflows through the Zambia Development Agency (ZDA) reached more than US$1 million in 2013, compared to $1,731 the previous year.
ZDA communications and public relations manager Margret Chimanse said as at the close of 2013, the agency had attracted $1,813 million of FDI into the economy.
Ms Chimanse said at the ongoing 50th Zambia International Trade Fair (ZITF) in Ndola that Traditional Exports accounted for $10,501 million in 2013, while Non Traditional Exports (NTE’s) amounted to $3.5 million.
“The agency is now working to bridge that gap between foreign investors and Small-Medium Entrepreneurs (SME’s),” she said.
Ms Chimanse said the agency wanted foreign investors to work closely with local SME’s, to spread benefits such as new wealth and job across the Zambian segment.
“ZDA is there to facilitate business for development and there are several companies coming to invest in Zambia whom we want to partner with local SME’s to forester growth,” she said.
Ms Chimanse said  technology transfer for SME’s was a key to creating joint ventures with foreign investors, so that they could provide products that will boost Zambia’s exports.
“Technology transfer is vital for SME’s to create business ventures with foreign investors and manufacturer products that will provide export opportunities for Zambia,” she said.
Ms Chimanse said Zambia was targeting to maximise the export potential in the Southern Africa Development Community, Common Market for Eastern and Southern Africa and the United States apparel market through the Zambia Africa Growth Opportunity Act (AGOA).
She said that the creation of one stop business registration centres was an initiative that would help SME’s register businesses easily.
The 50th ZITF was being held under the theme “Showcasing 50 years of business transformation and development.”