ZDA signs US$80 million investment agreement with Chinese firm

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The Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement (IPPA) with Zhong Yang Eco-Agriculture Industry Park in Chongwe aimed at enhancing investment cooperation between the two parties.

ZDA board chairperson David Masupa who signed on behalf of the agency stated that he is confident that the agreement will strengthen the existing partnership with the investment firm.

Mr. Masupa noted that the $80 million five-year planned investment in the agriculture sector by the company will go a long way in contributing to the country’s Gross Domestic Product (GDP).

He assured Zhong yang Eco-Agriculture industry park that the Zambian government will work with the company to ensure that the investment bares fruit.

Mr. Masupa thanked the company for investing in the agriculture adding that the sector is key in national development.

Bishop Masupa also commended the investment firm for partnering with the local communities in the country and making efforts to improve people’s livelihood.

“I am pleased that the company had already shown its commitment towards making a substantial contribution to the social and economic life of the Zambian community,” Mr. Masupa said.

He called on Chongwe municipal council to support the company as it undertakes various community projects in the district.

Meanwhile, Zhong Yang Eco-Agriculture Industry Park Managing Director, Wen Shunfan said the company’s emphasis is in commercial seed production, agriculture, tourism, animal husbandry, and fish farming.

Mr. Shunfan said the company has a target to create 450 permanent jobs for locals and more than 100 part time jobs in the construction sector.

He disclosed that the company will provide free agriculture training for the local people which will be fully sponsored by the company to empower people with modern skills in crop and livestock farming.

“We are happy to note that Zhong Yang Eco-Agriculture Industry park is committed to ensuring that the community takes centre stage in its investments. Corporate social responsibility is not just a business principle, but a Chinese cultural approach that seeks to empowering communities,” Mr. Shunfan said.

Speaking during the same event ZDA Acting Director, Jessica Chombo urged the company to work closely with the agency in its undertakings.

Ms. Chombo said that this would enable the agency to provide timely and vital support.-ZANIS

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