Zambia launches Multi Facility Economic Zone project
London, November 29, 2018 (AltAfrica)-Zambia’s President Edgar Lung has launched the construction of the first ever Multi Facility Economic Zone in Central Province by China Jiangxi United Industrial Investment that will cost US $300m in the first phase.
The Industrial park project, the major investment that has come as a result of the recently held Central Province Investment Forum and Expo which attracted more than 2,000 delegate, will be located opposite Farm Store along the Great North Road.
“We believe that the project will fully take the location advantages of Central Province to promote the agriculture, manufacturing and food processing industries, which will contribute to local economic development and regional industrial upgrading,” said the President.
Multi Facility Economic Zone project
It is set to accommodate various industries including motor vehicle and generator assembling plants. The President pledged government’s continued support to those wishing to invest in the Multi Facility Economic Zones.
“The government will continue to encourage the development of Multi Facility Zones, industrial parks and farm blocks to foster industrialization and value addition. It is for this reason that the Ministry of Commerce, Trade and Industry has developed the national industrial policy, national monitoring strategy and the national investment promotion strategy, all aimed at creating a platform for continued development and growth,” said President Lungu.
“Apart from the Chibombo project, the Expo has seen a number of local and foreign investors expressing interest to invest in Luano, Chitambo and Ngabwe,”said President Edgar Lung.