FDIs

Zambia and Japan on Wednesday signed a memorandum of understanding aimed at helping the southern African nation attract more Japanese investment.

The agreement also paves way for Zambia to be part of a network which comprises 193 Japanese firms and 36 embassies where investment information is shared.

Ndiyoi Mutiti, Zambia’s Ambassador to Japan, signed on behalf of Zambia while Japan Institute for Overseas Investment president Kohei Nakanishi signed on behalf of Japan.

The Zambian envoy said Zambia appreciates the amount of Japanese support it has received through Official Development Assistance (ODA), according to a release.

She further expressed optimism that through the operationalization of the agreement, more Japanese firms will invest in Zambia.

“Zambia is now looking to have the Japanese private sector play a more active role and get into partnerships with the Zambian private sector,” she said.

On his part, the Japanese government official said his government will work hard to assist Zambia in attracting more Japanese investors.

According to him, the agreement will result in deepening of economic relations between Zambia and Japan through facilitating sound and smooth development of Japanese direct investment by coordinating activities. Enditem

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