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LUNGU woos more investors


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President Edgar Lungu says there is urgent need for more investment in nontraditional sectors in order to resolve the volatility in the foreign exchange market.


The President says there is need to diversify exports to global and regional markets inorder to have more investment.


President Lungu has also says his government will ensure that there is a stable micro economic environment to attract more investments.


He said this in a speech read for him by Commerce Deputy Minister Miles Sampa during a media conference to officially launch the Sinoma Zambia Building Materials Industry Park.


President Lungu says the coming of more investors in the country is a sign that investors have confidence in the government.


And speaking earlier Sinoma Limited President Peng Jianxin said the projects that his company will embark on in the industry park will have investments of over 500 million US dollars.


He says the industry will create 3-Thousand job opportunities for local people.


Mr Peng says his company plans to construct a one million per ton a year cement production line.


And speaking at the same function, Chieftainess Nkomesha Mukamabo on whose area the industry park will be constructed welcomed the development.


She says she is looking for a situation where both the investors and the local’s will benefit from the project.


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