By BUUMBA CHIMBULU
THE Lusaka South Multi-Facility Economic Zone (LS-MFEZ) has reached investment levels of US$2 billion in 48 approved applications, managing director Mukela Lubasi has said.
Ms Lubasi said the 48 applications were for both pledged and actualised investments.
She explained that out of the 48, eight were indigenous Zambian companies while the rest were a mixture of partnerships.
Ms Lubasi was speaking in an interview in Lusaka.
“These are signed up companies, we have 10 that are already on the ground and seven that are already operating. The rest are still yet to establish and operations.
“All these investments are attributed to the enabling environment, you know for businesses to operate, we need good policies and good stakeholder relationships,” Ms Lubasi said.
Ms Lubasi said the zone had been undergoing infrastructure development with some factories that had pledged investment beginning to open up.
She said companies such as Trade Kings were in their second phase of factory construction.
“We have different grades at which investors come to actualise their investments. Some are dealing with sector approvals while others are trying to organise finances and work on their projects, so it takes time for some of these projects to materialise,” Ms Lubasi said.
The zone, she said, had received interest from the Middle East to invest in the area.
She said most Chinese companies had expressed interest to invest in the economic zone.
“We have received interest from Chinese investors, we have some that are venturing in manufacturing. Four have expressed interest and we have two who we have advanced in our discussions,” she said.
Meanwhile, Ms Lubasi announced that the LS-MFEZ had started selling residential properties.
Ms Lubasi explained that the zone was ready to accommodate residents.
“If you are not going to be part of the industrial development, at least you can be part of the residential development,” she added.