. Chisanga

By KENNEDY MUPESENI –
THE Zambia Development Agency (ZDA) has signed a Memorandum of Understanding with International Enterprise Singapore to grow bilateral investment between Singapore and Zambia.
The MoU aims at promoting business interactions between Zambian investors and those from Singapore.
ZDA board chairperson Songoyawo Zyambo said the MoU was part of the new strategy ZDA has devised to actualise investment pledges.
Mr Zyambo said ZDA in the next two years plans to widen the scope of attracting investments by working with Zambian missions abroad adding that time has come to engage more in economic diplomacy.
He said this on the sidelines of Zambia Investment Conference organised by ZDA and Pangaea Securities at Radisson Blu in Lusaka at the week.
“This MoU we have signed will enable the two investment promotion organisations share ideas and link enterprises in both countries to explore investment growth areas,” he said.
ZDA do not want to rely on pledged investment but engage investors and see the site of proposed investment.
ZDA has also devised mechanisms to get in touch with the local entrepreneurs to equip them on how to forge appropriate partnerships with their foreign counterparts.
Mr Zyambo said the MoU would also help identify credible investors and sell Zambia in that part of the world.
ZDA would continue expanding alliances to sell Zambian investment potential.
ZDA director general Patrick Chisanga signed on behalf of ZDA while First Secretary Commercial (South Africa) and Centre director Daniel Seah signed on behalf of International Enterprise Singapore.
Mr Seal said the partnership would further strengthen economic and bilateral ties between the two countries.