ZAMBIA, UAE SIGN US$2.14 BILLION INVESTMENT MOUs President Hakainde Hichilema has said Zambia is seeking to strengthen economic cooperation with the United Arab Emirates (UAE) through increased trade, investment and domestic reforms aimed at growing the economy. President Hichilema said this when he attended the Zambia–UAE Business Forum in Abu Dhabi, where memoranda of understanding […]

ZAMBIA, UAE SIGN US$2.14 BILLION INVESTMENT MOUs

President Hakainde Hichilema has said Zambia is seeking to strengthen economic cooperation with the United Arab Emirates (UAE) through increased trade, investment and domestic reforms aimed at growing the economy.

President Hichilema said this when he attended the Zambia–UAE Business Forum in Abu Dhabi, where memoranda of understanding (MoUs) worth US$2.14 billion were signed across various sectors.

He said Zambia could learn from the UAE’s experience in using its natural resources to develop its economy and improve living standards.

“The UAE has harnessed its natural resources to develop its economy and raise the living standards of its people,” Mr Hichilema said.

The President said the Grow Zambia Agenda seeks to double the size of Zambia’s economy and increase revenue for public services, employment opportunities and business.

He said Zambia looked forward to signing a Comprehensive Partnership Agreement with the UAE to further increase trade between the two countries.

“We will continue to prioritise increased trade and domestic reforms to attract the investment needed to grow our economy,” he said.

President Hichilema expressed gratitude to UAE President Sheikh Mohamed bin Zayed Al Nahyan for inviting him to the country and reaffirmed Zambia’s readiness to receive investment.

“Zambia remains open and ready for business and investment,” he said.