Thursday, October 13, 2011
TIME PUBLISHED - Thursday, October 13, 2011, 5:01 pm
First Quantum Minerals Ltd. Chairman and CEO Philip Pascall
First Quantum Minerals Limited is happy with President Michael Sata’s drive to boost foreign investment in Zambia.
First Quantum Minerals Chief Executive Officer Philip Pascal says President Sata’s willingness to engage with foreign investors to strike a balance for benefits of both investors and Zambians is welcome.
Mr Pascal says the president’s stance is key in maintaining and enhancing investor confidence in the country.
Mr Pascal who met with President Sata at State House in Lusaka says the discussions with the fifth Republican President of Zambia, who marked his 20th day in office on Wednesday, were cordial and positive.
He says it is clear that President Sata wants to see increased investment that gives both investors and Zambians mutual benefits.
This is according to a statement released to ZNBC News by the mining firm.
First Quantum is Zambia’s largest copper producer, and is the single largest contributor to the national treasury.
In his inaugural speech, President Sata emphasised that foreign investment is important to Zambia as it does not only create jobs but equally contributes to the economic empowerment of Zambians.
The President also highlighted that the Patriotic Front (PF)-led government will continue to work in fair partnerships with investors already in the country and welcome new ones.