The Zambian Development Agency (ZDA) has recently announced that it has participated in the 19th China International Fair for Investment and Trade (CIFIT) realized in Xiamen, China.
The ZDA together with the Patents and Companies Registration Agency (PACRA) were in charge of representing the Zambia’s Ministry of Commerce, Trade and Industry (MCTI) which aimed at improving bilateral investments to the country.
To reach this objective, PACRA supported the Ministry by disseminating information on business registration procedures in Zambia, while ZDA was engaged with investment and export promotion activities.
According to PACRA’s Register, Mr. Anthony Bwembya, this year’s fair has helped Zambia to narrow information gaps about investors’ entry requirements into the energy and other priority sectors, something that has helped to reach more potential investors than the expected ones.
A meeting between ZDA Director General, Mr. Patrick Chisanga and United Enterprises Group of Companies Chairman Abdul Ali Al A’ali, was among the most promising achievements due to the investments that the Bahrain-based company has mainly in energy around the world, ZDA indicates.
According to ZDA, Zambia has focused this year on promoting and attracting investment into priority sectors such as oil & gas and renewable energy, to support the challenges that the power generation industry is currently facing in the country.
99% of the Zambia’s electricity comes from large hydropower plants that have seen their capacities reduced because of recent and longer droughts that are hitting the country.
Zambia currently produces a total of 1,900 MW while the capacity is 6,000 MW according to the International Renewable Energy Agency (IRENA).
