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Zambian government secured Foreign Direct Investment (FDI) pledges amounting to a staggering US$8.3 billion in the first quarter of 2023 stated by President Hakainde Hichilema in a press briefing. This surpasses the FDI recorded in both 2021 and 2022, which stood at US$3.2 billion and US$6.9 billion, respectively.
Zambian government secured Foreign Direct Investment (FDI) pledges amounting to a staggering US$8.3 billion in the first quarter of 2023 stated by President Hakainde Hichilema in a press briefing. This surpasses the FDI recorded in both 2021 and 2022, which stood at US$3.2 billion and US$6.9 billion, respectively.
President Hichilema attributed this achievement in FDI pledges to the successful implementation of the government’s policy on economic diplomacy. He emphasized the importance of Zambians understanding the purpose of his and his teams’ overseas travels, as these visits play a crucial role in attracting investments and strengthening the country’s economic prospects. This reflects a positive sentiment about Zambia’s economic prospects under the new administration. The government’s policy on economic diplomacy appears to be yielding fruitful results, attracting a substantial influx of foreign investment. This influx is expected to drive economic growth, create job opportunities, and enhance the living standards of Zambian citizens.
During the press briefing, President Hichilema also addressed the economic challenges faced by Zambian citizens due to the country’s debt distress. He assured the public that the government would provide support to alleviate the burdens imposed by the high cost of living. The president emphasized that his administration is diligently working to improve the situation and mentioned specific measures being taken, such as the introduction of free education to alleviate school fees expenses.
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Furthermore, President Hichilema proudly announced his selection to participate in a global forum aimed at discussing mechanisms to establish low-interest rates on financing for African countries and the private sector. This recognition demonstrates Zambia’s growing international influence and the president’s commitment to advocating for favorable financial conditions that will benefit not only Zambia but the broader African continent.
