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Zambia has abundant investment opportunities in tourism – Namugala

Zambia has abundant investment opportunities in tourism – Namugala
By Kabanda Chulu
Fri 23 Oct. 2009, 04:00 CAT

TOURISM minister Catherine Namugala yesterday said the government will ensure that the regulatory framework is put in place to attract investment for the development of the tourism industry.

Speaking when business officials from Joz Group World Trade Centre of Saudi Arabia arrived in the country to explore business opportunities, Namugala said Zambia had abundant investment opportunities in tourism, apart from other areas of the economy.

She cited South Luangwa National Park where government had put in place basic infrastructure including a good road network, as part of the enabling environment to attract investment into the wildlife sub sector.

“As government we are committed to ensure that the regulatory framework is in place to guide tourism investment and development and this is why certain measures aimed at reducing the cost of doing business are already in place and some will soon be implemented,” said Namugala.

“In the tourism sector, we need increased investment especially in the accommodation sub-sector in order for Zambia to reach at least 50,000 bed-capacity.”

The Joz Group World Trade Centre is led by Nabeel Joz and owns 33 companies across the world with business investments ranging from construction to the hospitality industry, among others.

The Saudi Arabian business delegation is expected to visit some national parks to explore investment opportunities and assess the possibility of investing in the country.

Labels: CATHERINE NAMUGALA, FDI, TOURISM

posted by MrK @ 4:38 AM