The media reports that Mr Halwampa said this when a delegation of officials from the Presidential Delivery Unit (PDU), Ministry of Energy, National Assembly and ZESCO met top management officials at the Shanghai Metals Market in China. Mr Halwampa noted that President Hakainde Hichilema would like to see a quick shift from the continued export of raw materials to value addition in resource areas for the growth of local economies. He said the Head of State has been working hard to ensure that Zambia’s investment climate is conducive and that this should be supported by a robust investment programme.
Mr Halwampa disclosed that the Agency’s partnership with SMM will lead to an actualisation of an agreement and signing of a Memorandum of Understanding with SMM that will help unlock Zambia’s mineral wealth and position the country for greater competitiveness on the global stage. “We aim to bring investors listed on the SMM platform to Zambia, our plan is to establish factories closer to the source of these critical minerals. This approach will significantly lower production costs and stimulate local economies,” he said.
Shanghai Metals Market Chief Executive Officer Logan Lu said his company will soon set up offices in Lusaka to facilitate Chinese investment in manufacturing especially in areas that include energy and electric car batteries. “With approximately 800,000 daily page views from Chinese manufacturers, SMM is well-positioned to act as a communication bridge between Zambia and potential investors,” he said. The Shanghai Metals Market is one of the most comprehensive intelligence companies benchmarking the prices of non-ferrous, ferrous and new energy materials.
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