ZDA records increased 2019 investment

By Christabel Lumingu-The Zambia Development Agency -ZDA- recorded a 12.6b US dollars projected investment and 80.7m dollars’ worth of new export deals and works with over 22,000 Micro, Small and Medium Enterprises in 2019.ZDA Acting Director General MATONGO MATAMWANDI says the recorded growth in projected investment of 160 percent in 2019 from 4.8b dollars in 2018 was facilitated in various sectors of the economy.Mr.MATAMWANDI disclosed that the Agency focused on attracting high value investment projects, resulting in the increased inflows recorded from the 390 investment projects registered during the year.He said the energy sector recorded the highest value of 5.5b dollars while the agriculture sector recorded 2.4b dollars respectively.Mr. MATAMWANDI however noted that the Agency recorded a decline of 24 percent to 21 thousand Jobs for the 390 investment projects registered in 2019 from 27 thousand 6 hundred jobs in 2018.He also disclosed that the Agency in collaboration with cooperating partners trained about 22 thousand entrepreneurs among them women and youth in market development and strategic partnerships among others.Meanwhile Mr. MATAMWANDI disclosed that the Agency has targeted over 3.5b dollars projected investment and more than 1.5b dollars actualized investment from 2017, 2018 & 2019 projections.He said the targeted 3 percent growth in 2020 is amidst the fiscal challenges faced in 2019, due to global economic conditions, domestic fiscal challenges, energy shocks, reduced agriculture outputs, among other macroeconomic fundamentals.Mr. MATAMWANDI said 2020 will have a higher focus on actualizing projected investments recorded in 2019 which include the actualization of high value projects in energy and agro-processing plants into the farming blocks.Mr. MATAMWANDI said the recent legalization of Marijuana exports is expected to increase the value of Non-Traditional Exports (NTEs) in 2020 and make the country more resilient to shocks in copper prices.This is contained in statement made available to ZNBC News in Lusaka today by ZDA Manager Communications and Public Relations FAITH MUSONDA. Post Views: 2
News Source: ZNBC

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