The Zambia Development Agency (ZDA) has signed a Memorandum of Understanding (MoU) with the Royal Group of Companies (RGC), led by Royal Investment Bureau, LLC, to establish a framework for cooperation in identifying, developing, and implementing mutually beneficial investment and development opportunities in Zambia.
The MoU brings together ZDA, the country’s economic development agency mandated to promote and facilitate trade, investment and business development, and RGC, an investment group in the United Arab Emirates with a globally diversified investment footprint across emerging and developed markets.
The ZDA Director General, Albert Halwampa, and Royal Group of Companies Group Chairman Saud Ali Bin Jerais AI Aleeli signed the MoU during the Zambia-UAE Business Forum in Abu Dhabi, United Arab Emirates, on the sidelines of President Hakainde Hichilema’s visit to the country.
The partnership is aimed at facilitating the identification and promotion of investment opportunities, strengthening cooperation in exploring potential investments, sharing relevant investment information, and facilitating engagement between RGC and relevant Government institutions and stakeholders.
The collaboration will also seek to promote investments that contribute to economic development, value addition, employment creation, and sustainable development in Zambia.
Under the MoU, cooperation will cover a broad range of sectors, including:
Agriculture – irrigation technologies and water harvesting infrastructure such as dams;
Real estate and hospitality – housing, hotels, resorts and associated infrastructure;
Mining – exploration and extraction of ferrous and non-ferrous mineral deposits, as well as value addition initiatives;
Infrastructure – roads, railways, airports, dry ports and other logistical facilities; and
Other critical economic sectors and Corporate Social Responsibility (CSR) initiatives that may be agreed upon by the parties.
The signing of the MoU underscores Zambia’s continued efforts to attract and facilitate investment that supports productive economic activity, value addition, job creation and sustainable development across key sectors of the economy.
