By DELPHINE ZULU –
THE Private Sector Development Association (PSDA) has described the US$800 million investment agreements facilitated by President Edgar Lungu in China as an indication of high investor confidence.
PSAD chairperson Yusuf Dodia said in an interview yesterday that President Lungu’s idea of wooing new investments was encouraging as it showed that the country had a favourable environment for new ventures.

. Dodia

“It is a great idea, bringing more investment in the country worth that much is definitely marketing Zambia to the outside world. This is encouraging and will give Zambia an opportunity to further increase foreign investments,” Mr Dodia said.
President Lungu has facilitated the signing of a range of investment agreements in China to a total value of $800 million.
The investment agreements, with the major one being the oil refinery and the majority private sector-driven have been signed between Government and the Zambian private sector companies working with their counterparts in China.
Mr Dodia hoped that the President carried along some experts that would be able to ensure that the signed for agreements would economically benefit the country and help create job opportunities.
He said the President should focus on ensuring that more economic zones were created and other investments that would add value to the country’s natural resources to avoid continued exportation of raw materials.
“Zambia should now start looking at investment that will be adding value to the national resources so that we avoid exporting raw materials and start putting Zambia at a different level in terms of investment. We also need to start the transfer of technology and skills,” he said.
Mr Dodia also asked Mr Lungu to ensure that investors coming into the country were partnering with Zambians in order for them to provide guidance and take advantage of opportunities.