Thursday, 19 January 2012

lusaka multi-facility economic zine to attract 4billion dollars australian investment

the lusaka south multi-facility economic zone (mfez) will attract about four billion u.s dollars of investment this year in infrastructure, energy, agriculture and other sectors.
meanwhile about 28 companies have expressed unsolicited interest to invest in the lusaka south mfez with 18 being local companies and 10 are foreign.
according to commerce, trade and industry minister robert sichinga, the australian investors are expected in the country on the 12th of february this year to study the areas of their interests.
mr sichinga said this in an interview with journalists yesterday when he toured the lusaka south multi-facility economic zone (mfez).
speaking during the tour, the commerce, trade and industry minister advised the zambia development agency to market the multi-facility economic zones which are in the country to escalate foreign investment flow.
he said without marketing the mfez’s, the sites may become white elephants and make government waste finances which it has put in developing such areas.
and mr. sichinga further expressed worry on the status of the environment in the area and advised the developers to put into consideration all nature and social aspects such as the water table and people squatting in the area illegally.
and briefing the minister on how far the development of the mfez are progressing, site project manager shadreck saili said since the beginning of the programme, 15 million dollars has so far been spent.
mr saili disclosed that government has in this year’s budget allocated about 4.5 million dollars for the development of the site.
he stressed that the area is open to investments in energy, infrastructure and other sectors of the economy adding that the total budget of investment in the infrastructure area is expected to be 121 million dollars.
mr. saili pointed out some challenges by stating that there are people illegally settled on the land and will need relocation.
he said this will be carried out in collaboration with the kafue city council.

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