Zambia tops in FDI inflows
Published On October 2, 2014 » 2666 Views» By Administrator Times » Latest News, Stories
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By JULIUS PHIRI –

ZAMBIA is topping other 16 landlocked African countries in foreign investment inflows.
According to the United Nations Conference on Trade and Development (UNCTAD), Zambia has the highest inflow of Foreign Direct Investment (FDI) among the 16 Landlocked Developing Countries (LLDCs) in Africa.
Speaking at a special event on facilitating the participation of LLDCs in regional and global community value chain, UNCTAD New York office chief Chantal Carpentier said FDI flows to LLDCs fled by 11 per cent in 2013 and that the Asian group of LLDCs experienced the largest fall in FDI flows of nearly 50 per cent.
Ms Carpentier said despite a mixed picture for African LLDCs, economies increased the FDI inflows, with Zambia attracting the most at US$1.8 billion.
This was contained in a statement released by first secretary for Press and public relations at the Permanent Mission of Zambia to the UN, Chibaula Silwamba.
Speaking at the same function, Transport, Works, Supply and Communications Minister Yamfwa Mukanga urged LLDCs to strive to attain sustainable development and save the lives of the people from the poverty cycle.
He said this inevitably called for greater cooperation in fundamental transit policies, laws and regulations among transit neighbours.
He expressed gratitude that UNCTAD continually advocates for a comprehensive development-centered agenda for LLDCs to address transport transit and trade facilitation challenges.
The minister called on development partners to assist LLDCs to invest in infrastructure development institutions, enhancement of entrepreneurship, training of human resource and skill development, technology acquisition and impart technological knowhow in the people.
Mr Mukanga said regional intergration and cooperation should be strengthened under the new concept of developmental regionalism to develop regional infrastructure networks which would in turn enhance competitiveness and increase productive capacities.
He said unlocking the trade potential of LLDCs would also require the prioritisation of energy supply.
Presenting a case study on Zambia, economist and interregional consultant Lindani Ndhlovu said Zambia should work with its neighbours within the regional economic community to develop infrastructure and reduce the cost of transport and electricity.
The discussion was organised by UNCTAD, the Common Fund for Commodities and the UN OHRLLS which was focussed on the challenges, opportunities and the new way foward for the development of the 32 landlocked developing countries.

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