President Hakainde Hichilema says his latest visit to the United Arab Emirates (UAE) has secured investment commitments worth US$2.14 billion for Zambia, with ongoing negotiations expected to push the value of proposed deals to nearly US$3 billion.
Speaking on arrival at Kenneth Kaunda International Airport in Lusaka, Hichilema said the commitments span key sectors of the economy, including health, agriculture, tourism and energy.
“We have been able, as of yesterday, to reach agreement to an investment level of US$2.14 billion. I have left a small team to work; we believe we will conclude more transactions, which will probably take the figure close to US$3 billion or more,” Hichilema told journalists.
Among the major projects discussed is the development of a health city on a 100-hectare site near Kenneth Kaunda International Airport.
According to Hichilema, the project will combine healthcare infrastructure with hospitality and tourism facilities, creating a specialised medical and commercial hub.
The UAE has emerged as one of Zambia’s key investment and trade partners in recent years, with the two countries strengthening cooperation in sectors ranging from energy and mining to infrastructure and agriculture.
Hichilema’s visit is the latest in a series of engagements aimed at attracting foreign direct investment as his administration seeks to accelerate economic expansion and diversify the country’s productive sectors.
The president said discussions in the Gulf state focused on mobilising private capital for projects that can contribute to Zambia’s long-term development objectives, particularly in sectors viewed as critical to economic transformation and service delivery.
JN/APA