By Nawa Mutumweno – The total investment of approved projects by the Zambia Development Agency (ZDA) has risen by 10% during the first quarter of 2012 compared to the same period last year.
According to the March edition of the ZDA SPOTLIGHT, the total investment recorded for the quarter was $1,392,093,476.00 with7,885 jobs expected to be created for Zambian citizens.
However, although there is an increase in investment during this period, there is no corresponding increase in employment creation when compared to the year 2011, which recorded 1,180 more job opportunities.
Nonetheless, investor confidence to invest in the country during the quarter under review has continued despite recording reduction in the number of projects by five percent compared to the previous year. In 2011, 80 projects were approved while 2012 recorded 76 applications from a total of 89 applications.
This performance can be attributed to the fact that investor confidence in the local economy is slowly getting back as the new government settles down with a defined policy direction towards FDI and in the process committing substantial interests to the local investment opportunities in various sectors of economy.