Zambia sees US$8m investment

The pledges were recorded from 12 projects that were approved by ZIC’s Projects Approval Committee (PAC) and covered agriculture, manufacturing, tourism and construction. This brings total pledges recorded during the first quarter to US $47,121,635, up from US $41,387,701 recorded in the same period last year. According to Sichilongo, the manufacturing sector recorded the highest investment commitments last month at US$3,650,422 with 190 job opportunities.”The construction sector received second-highest in pledged investments with a total of US$3,507,837 while creating 52 job opportunities for the local people,” she said. “The agriculture sector recorded US$ 518,000 worth of investment commitments with a total number of 38 in job creation. The tourism sector recorded US$ 450,000 investment pledges and commitments to create 29 jobs for Zambians.” Sichilongo noted that while investment pledges for the first quarter this year had increased, the number of jobs expected had fallen from 1,317 jobs for local people last year to 1,011 jobs. She said during the quarter, the manufacturing sector recorded the highest committed investments at US $25,680,422 with 490 job opportunities. Agriculture came second with pledged investments of US $14,934,673 and 278 jobs while construction recorded pledges worth US $3,812,837 and a total of 78 jobs. The tourism sector recorded US $2,493,703 in pledged investments and pledged to employ a total of 141 Zambians while the service sector recorded pledges of US$ 200,000 in investment and 24 jobs. In January, ZIC recorded US $4,256,673 in investment commitments with 238 jobs created for Zambians while in February, the centre recorded pledges worth US $34,738,703 and 464 jobs.’

April 2006
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