Q FM Africa's Modern Radio
Vice President Mutale Nalumango has assured Indian investors that their investments in Zambia are safe, due to the conducive investment climate and political stability that the country enjoys.
Mrs. Nalumango says she is aware that the Indian business community has already staked 5 billion United States dollars for investment in Zambia and that such investment will be protected by law.
The Vice President explains that Zambia is open for business and has great need for more partnerships in various sectors of the economy.
Mts. Nalumango described trade relations with India as strong and in excess of 1 billion United States dollars.
She says India’s economic footprint in the Zambian economy is seen from the over 3 billion United States dollar investment by Indian firms in the country.
The Vice President said this when she addressed the 17th Confederation of Indian Industries (CII) EXIM Bank India Africa Growth Partnership Conclave in New Delhi which has attracted over 600 government and business representatives and 500 local firms.
And opening the conference, India’s Minister of Commerce and Industry Piyush Goyal assured Africa of his country’s commitment to supporting the continent’s socio-economic transformation agenda.
Mr. Goyal said India’s 17 year development cooperation with Africa under the CII Exim Bank India Africa Growth Partnership has given Africa a platform to build socio economic bridges for the benefit of her people.
The conference which runs from July 19 to 20, is expected to provide a platform for India and African countries to dialogue over trade partnerships and strengthen bilateral ties and economic opportunities.
Vice President Mutale Nalumango is expected to hold bilateral talks with her Indian Counterpart Venkaiah Naidu and the four African Vice Presidents attending the Conclave.