PRESIDENT Hakainde Hichilema on Saturday launched the first ever 17,000 hectare Zambezi Free Economic Zone, a transformative initiative by United Arab Emirates (UAE) investors which he said would contribute significantly to the country’s treasury.
He said this will ensure that free education, the health sector and other significant sectors are well funded.
The Zone is strategically located in Chief Sekute’s chiefdom of Kazungula district in Southern province to stimulate economic growth and create over 1,000 direct jobs.
Unveiling the groundbreaking Zone in Kazungula, President Hichilema revealed that the innovative economic zone is poised to attract significant Foreign Direct Investment (FDI) to Livingstone, Kazungula and Zambia as a whole.
He disclosed that the initiative aims to also position Zambia as a hub for global investment and innovation while delivering tangible benefits to local communities and all Zambians.
“The guidelines we gave to the promoters here is that when investors come here, the initial ticket, the amounts of money, some of that money will go directly to the Zambian treasury so we can fund free education, so we fund the health sector and energy development, this is how strategic this location is here. This development will benefit every Zambian. The revenue generation here will help us sustain CDF across the country. This project will contribute towards buying a desk for a kid who’s been sitting on the floor,” explained the Head of State.
He added that the benefits of having this free zone include skills development, technological advancements and substantial improvements in infrastructure, among other positive outcomes.
“The Zambezi Economic Free Zone will prioritise key service sectors such as housing, healthcare, education, convention centers, and corporate headquarters.”
“This project is designed to attract investors, retirees and workers from around the world, including Zambian investors, encouraging their participation and contribution to this unique model of economic development,” said President Hichilema.
The President shared that the free economic zone is part of the agenda to further develop the Public Private Projects (PPP).
He urged both the public and private sectors to put the needs of the Zambian economy first before theirs.
“The previous government borrowed excessively…if you are in public service, think about how to make this country better and the private sector should do the same,” he urged.
President Hichilema stated that economic free zones are globally recognised as catalysts for economic growth which offer various incentives, simplified regulations and enhanced infrastructure.
“These zones create an environment conducive to investment, job creation, and the transfer of skills and technology, ultimately driving sustainable economic development,” he said.
Meanwhile, the Head of State pointed out that the zone will also venture into artificial intelligence to promote agriculture, mining, skills training and agriculture.
“Training facilities will be part of this facility, first class medical services will be part of this facility, technology businesses will be located here. In this location, we will promote artificial intelligence to exploit our resource endowments beyond this area in mining and agriculture so that artificial intelligence capabilities will be located here. This will grow the economy in mining agriculture and tourism,” said President Hichilema.
By Catherine Pule
Kalemba, December 16, 2024
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