Mr. Lungu has however urged South African investors to take advantage of the investment opportunities in Zambia by investing in various economic sectors which offer a favourable rate of return for their investments.
ZANIS reports that President Lungu said government remains committed to creating an enabling business environment aimed at attracting foreign direct investment and stimulating local investment through linkages with small and medium enterprises.
The Head of State said this in a speech read on his behalf by Vice President Inonge Wina at the official launch of the Zambia South Africa Business Council (ZSBC) Zambia Chapter in Lusaka last night.
The Zambia South Africa Business Council was established in October 2015 as an innovation of the Zambian High Commission in Pretoria to promote investment and trade between the two countries and to advocate quick resolution of disputes and barriers.
Mr. Lungu expressed hope that through the business council, trade volumes between the two countries will increase even more in a mutually beneficial way with the anticipated inclusion of more local entrepreneurs in various economic value chains.
He however emphasized on the need to ensure that more local entrepreneurs are given an opportunity to participate in the economic value chains in Zambia by designing appropriate capacity building interventions.
Meanwhile, Acting South Africa High Commission to Zambia Nontombi Makupula said there is need to cope with the changing global trend of strengthening bilateral relations not only politically but economically in order to improve the living conditions of the people.
Ms. Makupula praised Zambia for being an all-weather trading partner of South Africa and pledged for continued efforts aimed at fostering inclusive economic growth between the two countries.