CHOMBA MUSIKA, Lusaka FRONTEKS, a reputable Turkish agro-processing company, has pledged to invest an initial US$4 million into an agro-processing
plant in Zambia.
Fronteks chairman Metin Gulec has rated Zambia as the best investment destination in Africa with incomparable incentives for investors.
Mr Gulec said Fronteks, which is also renowned for infrastructure development, will in future consider investing in real estate and infrastructure development in the country.
He said this when he paid a courtesy call on chargé d’ affaires at the Zambian mission in Turkey, Bwalya Nondo.
Mr Gulec assured Mr Nondo that he will use his influence to invite other Turkish companies to invest in Zambia.
This is contained in a statement issued yesterday by first secretary for press at the Zambia mission in Ankara, Jerry Munthali.
Mr Gulec said he will announce his travel plans to Zambia as soon as internal administrative procedures are finalised.
And Mr Nondo assured Mr Gulec that his choice of Zambia as an investment destination is right because the country has the right investment climate, political stability with appropriate incentives for investors.
“We are trying to encourage value addition to help create jobs and promote technology transfer for our people,” Mr Nondo said.
He said Zambia is centrally located and Fronteks can take advantage of the strategic position to export its products to the entire southern African region.
The Zambian mission in Ankara has been identifying and interacting with reputable Turkish agro-processing companies that manufacture products out of fruits in an effort to attract them to invest in Zambia.
Meanwhile, Egyptian Minister of Foreign Affairs Sameh Shoukry says it is his country’s desire to increase trade and investments in Zambia.
Mr Shoukry has also hailed the warm relations between Zambia and Egypt and renewed Cairo’s invitation for President Lungu to undertake a state visit to that country.
Speaking during a bilateral meeting with Minister of Foreign Affairs Harry Kalaba in Addis Ababa, Ethiopia, Mr Shoukry said Egypt is looking for more investment opportunities in Zambia.
Mr Shoukry also requested Mr Kalaba to join him in Cairo to prepare for the imminent state visit by President Lungu.
This is contained in a statement issued yesterday by first secretary for press and tourism at the Zambian embassy in Addis Ababa, Inutu Mwanza.
Mr Kalaba said Zambia appreciates the bilateral relations between the two countries.
He said Egypt is welcome to increase its investment in Zambia.
“The Zambian government is eager to welcome more investment from countries like yours. Zambia is the best investment destination because of its peaceful and stable nature,” Mr Kalaba said.
He said being members of the African Union Peace and Security Council, Zambia and Egypt must work together in spreading messages of peace and unity on the continent.