Friday, August 24, 2012

Interactive Session with Her Excellency Ms.Susan Sikaneta, High Commissioner of Zambia in India, August 24, 2012, at MCC Chamber of Commerce & Industry

To enhance bilateral trade between India and Zambia five-fold to reach $1 billion mark, Ms. Susan Sikaneta, High Commissioner of Zambia invited Indian firms to invest in industries dealing with fertilizer & cement production, timber, leather products, agro products, tourism, heavy and engineering industry, telecommunication, pharma, hydro power, value addition (agro/mining), construction industry etc. 

She highlighted that Zambia had an investor friendly economic environment, with investment guarantee and securities, abundant natural resources, scope of unlimited repatriation of profits, progressive banking, legal and insurance services of international standard which are the prime reasons for investing in Zambia. ZDA offers all possible help in setting up Joint Ventures by Indian Companies with sector specific incentive packages.

While mentioning about the huge potential for the Indian film industry, she expressed interest in signing MoUs between the Indian Film Industry and Zambian Tourism Department. She also invited Indian tourist to the land of Victoria Falls with the opportunities to experience some of the finest Safaries on the planet. She further mentioned that Indian firm Shapoorji & Pallonji has started producing sugar cane, cotton and timber in 2000 acres of land in Zambia. 

Shri Deepak Jalan, President, MCCI in his welcome address focused on the need of sorting out the priorities between the two countries so that the trade figure between the two could be increased to US$ 1 bn in the coming years. He further added that Indian companies like Vedanta Resources, Bharti Airtel, TATA Group have also made significant investment in Zambia.  

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