By Bennie Mundando
THE Zambia Development Agency (ZDA) says it welcomes the move by an Indian company, Bayan Impex Private Limited, to build a specialized Agricultural University in Zambia at an initial cost of US$ 1 Million.
ZDA board chairperson David Masupa has today told The Scoop in a statement that the development is a step in the right direction.
Bishop Masupa said ZDA was committed to fostering economic development through the facilitation of trade, investments and enterprise development.
He said the Agency will assist Bayan Impex Private Limited through the registration process as the Agency offered a number of facilitation services to investors.
“Zambia is an ideal investment destination with attractive investment incentives for investors both local and foreign in the key priority sectors of Agriculture, Mining, Manufacturing, Infrastructural development and Energy. Zambia has also been ranked by the World Bank as the 5th best country to do business in Sub-Saharan Africa out of 48 countries.
“ZDA has since inception assisted a myriad enterprises both local and foreign in order to boost their growth and productivity. Currently, ZDA is helping Texila American University to find land to build a state-of-the-art university valued at US$ 8.5 million,” Bishop Masupa said.
“Texila University plans to increase the student populace from the current 814 to 10200 in the next five years. Texila American University is currently renting from Kwacha House and their investment stands at US$ 3 million.
“Texila University has created 63 jobs out of which 53 are for Zambians in line with the Zambianisation Policy. The university plans to create an additional 350 employees by 2023,” he said.