The Zambia Development Agency (ZDA) has secured a major strategic partnership with the Jiangsu Industrial Cooperation Association, with a membership of over 5,000 enterprises aimed at significantly boosting investment inflows from the People’s Republic of China into Zambia.
The collaboration in Nanjing, Jiangsu province, underscores the growing investor confidence in Zambia and reflects the country’s increasing appeal as a premier investment destination in Africa.
As part of the partnership, the Association has offered ZDA a complimentary office space for the establishment of a ZDA representative office in Nanjing, along with support to employ a member of staff at no cost to the Government of the Republic of Zambia or ZDA.
The initiative is expected to strengthen Zambia’s on-the-ground presence in one of China’s most economically vibrant provinces with a Gross Domestic Product (GDP) of over USD 2 trillion, representing one of China’s largest economic hubs and a critical source of outward investment.
ZDA Director General Albert Halwampa has described the partnership as a transformative step in Zambia’s investment promotion strategy.
Mr. Halwampa noted that the partnership aligns with Zambia’s broader strategy to deepen economic cooperation with China and attract investment into priority sectors, including mining, energy, manufacturing, and value addition, among others.
“Establishing ZDA’s presence in Jiangsu Province is a strategic milestone that will enhance investor engagement, improve information flow, and position Zambia to attract high-quality investments. This partnership provides a direct channel to one of the most dynamic investment pools in the world,” he said.
Mr. Halwampa added that Zambia is targeting to attract investment equivalent to at least 10% or USD 2 billion of Jiangsu Province’s GDP, a move that could significantly accelerate the country’s industrialisation and economic transformation agenda.
Mr Halwampa said that presentation of an office in Nanjing is evidence of the good leadership of Mr Hakainde Hichilema, President of the Republic of Zambia who is focussed on increasing trade and investment in the Country. The President has put in place stable and predictable policies as well as achieving strong macro economic fundamentals resulting in the highest levels of investor confidence ever experienced in the country
Meanwhile, the Zambian Ambassador to China, Ivan Zyuulu, welcomed the development, adding that it is a great gesture by the Jiangsu Industrial Cooperation Association, which the Zambian government must support.
And speaking, when he gave the Zambian delegation a tour of the office and exhibition spaces, Association Director Chen Weimin said the move responds to strong interest from Chinese investors seeking opportunities in Zambia.
He explained that the over 5,000 members of his Association with investments across multiple sectors are eager to explore investment opportunities in Zambia.
ZDA and the Zambian Embassy in Beijing are on a joint investment promotion roadshow in China to position Zambia as a prime investment destination.
