The Zambia development Agency (ZDA) says it recorded 12.6 billion United States dollar projected investments and facilitates 80.75 million US dollar worth of new export deals and worked with over 22 thousand Micro, Small and Medium Enterprises in 2019.

In a statement to Money FM News, ZDA Acting Director General Matongo Matamwandi said the Agency recorded a growth in projected investment by 160 percent in 2019 from 4.8 billion US dollars in 2018 in various sectors of the economy.
Mr. Matamwandi disclosed that the energy sector recorded the highest value at 5.50 billion US dollars, agriculture sector with USD 2.4 billion, while the Service sector was third with1.5 billion US dollars representing 12 percent.

He explained that the increased re-investment recorded is as a result of the agency’s shifted focus in its Investment Promotion strategy from Foreign Direct Investment to Domestic Direct Investment through the facilitation of business diversification.
“In 2019, ZDA focused on attracting high value investment projects, resulting in the increased inflows recorded from the 390 investment projects registered during the year,” Mr. Matamwandi said.
Mr. Matamwandi further noted that in terms of projected employment, the Agency recorded a decline of 24 percent to 21,000 jobs for the 390 investment projects registered in 2019 from 27,600 jobs in 2018.

He stated that the drop in employment is due to the uptake of improved technology across industry.
“The high value projects attracted during the year are expected to create jobs at secondary and tertiary level because of the multiplier effects of the projects,” he explained.

Mr. Matamwadi said despite the decline, employment creation remains afloat in the manufacturing sector recording the highest employment of 6,600 jobs, representing 31 percent.
“This was followed by the agriculture and mining sectors recording 5,000 and 2,500 jobs, representing 24 and 12 percent, respectively,” he added.