Latest News:  
Beijing   Cloudy/Overcast    12 / 5   City Forecast

People's Daily Online>>World >> Asia/Oceania

India's foreign direct investment to Zambia tops 3 bln USD


08:18, March 22, 2012

LUSAKA, March 21 (Xinhua) -- Zambia's Foreign Direct Investment (FDI) inflow from India has exceeded 3 billion U.S. dollars in the last five years in various sectors of the southern African nation, the Zambia Daily Mail reported on Wednesday.

The bulk of investment went to mining, energy, finance and telecommunications, the report said.

Indian Business Council of Zambia (IBCZ) Executive Secretary Sanjai Chaturvedi said India's biggest investment in Zambia include Vedanta Resources' 2.6 million dollars in mining firm Konkola Copper Mines (KCM), Bharti Airtel's investment in telecommunication firm Airtel Zambia when it bought Zain Zambia in 2010 and Taurian Mangenese which is investing 300 million dollars in a manganese processing plant in central Zambia's Serenje district.

The ICBZ has since signed a memorandum of understanding with Kabwe Chamber of Commerce and Industry from central Zambia's Kabwe town to promote business relations between the two organizations, according to Daily Mail.

Zambia's Permanent Secretary in the Ministry of Commerce, Trade and Industry Stephen Mwansa said when he officiated at the signing ceremony that government is committed to creating a platform for the country to achieve economic development by attracting significant foreign direct investment.

According to government figures, Zambia's exports to India have continued to increase from 52 million dollars in 2007 to 102 million dollars in 2010 while India's exports to Zambia were at 164.9 million dollars in 2007 to 88.34 million dollars in 2010.


Leave your comment0 comments

  1. Name


Selections for you

  1. Ancient Buddha statues unearthed in Hebei

  2. China’s Dead Sea: Yanchi in Yuncheng city

  3. Severe drought continues in Chongqing

  4. Frenchmen go for rides by tricycle in Shanghai

Most Popular

What's happening in China

Beijing public health hotline 12320 begins services

  1. UnionPay offers cash support service in Taiwan
  2. Apple app off market for prurient content
  3. Condom found in infant formula
  4. 60-year-old 'stud' told to repay friend's loan
  5. Plaster in water may be polluting river

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai