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Zambia records increased FDI

Zambia records increased FDI
By Gift Chanda
Thu 28 July 2011, 13:59 CAT

ZAMBIA recorded a 30 per cent increase in its foreign direct investment (FDIs) to US $1.041 billion last year, premised on the growing mining, manufacturing and energy sectors, says a senior investment official.

Zambia Development Agency (ZDA) investment promotion and privatisation acting director Henry Sakala said the country’s economy saw a jump in investment inflows despite a nine per cent overall decline in FDIs in the rest of Africa last year.

He said FDIs into Zambia rebounded last year from 696 million in 2009.

“The major sectors contributing to FDI growth in 2010 include manufacturing, mining and energy,” he told journalist on Tuesday during the launch of the United Nations Conference on Trade and Development (UNCTAD)'s 2011 World Investment Report, subtitled ‘Non-equity modes of international production and development.’

The report however revealed that global FDIs rose five per cent to US $1.24 trillion in 2010, while those to developing economies and transition economies – for the first time - surpassed the 50 per cent mark of global FDI flows.

Labels: FDI

posted by MrK @ 2:17 PM