Zambia is rolling out the red carpet for international investors, eager to tap into the rich potential of its untapped tourism destinations.
During an investment forum in Madrid, Spain, Permanent Secretary of Tourism Evans Muhanga emphasized government initiatives aimed at attracting capital to these hidden gems.
Simplifying procedures for tourism activities, improving access to key sites, and developing essential infrastructure are just some of the government’s efforts to woo investors.
Recognizing tourism’s potential to diversify the economy and reduce dependence on traditional exports, Zambia has placed its development at the forefront of its agenda.
“This is a golden opportunity to explore the vast potential Zambia offers and discover the diverse avenues for investment in our flourishing tourism sector,” stated Muhanga.
He reiterated the government’s commitment to fostering a favorable environment for foreign direct investment in tourism, burging investors to view Zambia as a beacon of untapped potential in the global arena.
From the grandeur of Victoria Falls to the untamed beauty of its national parks, Zambia boasts a treasure trove of attractions catering to a variety of investor interests.
Muhanga highlighted the country’s wealth of natural and cultural wonders, positioning it as a prime destination for those seeking to be part of a burgeoning tourism success story.
Further bolstering Zambia’s investment appeal, Zambia Development Agency Director General Albert Halwampa outlined recent reforms undertaken to enhance ease of doing business.
These include the establishment of the Presidential Delivery Unit and the Public Private Dialogue Forum, both aimed at streamlining challenges encountered by investors.
A significant development also saw the official launch of the Zambia Investment Guidelines, penned in collaboration with the World Tourism Organisation (UNWTO).
This comprehensive roadmap serves as a vital resource for potential investors navigating their entry into Zambia’s thriving tourism sector.
UNWTO Executive Director Natalia Bayona commended Zambia’s attractive investment incentives and strategic location, citing its role as a transit and trade hub as compelling reasons to invest.
To incentivize further engagement, a joint letter of intent was signed, paving the way for three major events hosted in Zambia in April this year.
According to the statement issued by First secretary for press in Paris, France Naomi Mweemba These event include:
“an Education Summit, the Brand Africa CEO’s Round-Table Forum, and a business and investment forum, where the official launch of the investment guidelines will occur in Livingstone.”
Acknowledging Zambia’s immense tourism potential, UNWTO Secretary General Zurab Pololikashvili exhorted investors to consider Africa as their preferred destination, specifically inviting them to attend the April investment forum in Zambia.
The high-level forum attracted notable dignitaries, including foreign investors, the Zambia Tourism Agency CEO, representatives from the Madrid Chamber of Commerce, Spanish investors, the Zambian private sector, and senior government officials.
Kalemba January 29, 2024