Zambian President, Hakainde Hichilema, has launched the Zambezi Economic Free Zone in Kazungula District, Southern Province, a project that is estimated to create over 1,000 direct jobs and transform the local economy.
The President who spoke during the groundbreaking ceremony of the 17,000-hectare development in Kazungula on Saturday, described the initiative as transformative with the potential to stimulate economic growth and attract significant foreign investment.
The project which is spearheaded by investors from the United Arab Emirates (UAE), is situated in Chief Sekute’s area and aims to boost investment in key service sectors, including housing, healthcare, education, convention centers, and corporate headquarters.
“The anticipated benefits include skills development, technological advancements, and substantial infrastructure improvements,” Hichilema said.
He emphasized that the zone would position the country as a hub for global investment and innovation while delivering tangible benefits to local communities with the global recognition of free economic zones as catalysts for growth.
“These zones offer incentives, simplified regulations, and enhanced infrastructure, creating an environment conducive to investment, job creation, and the transfer of skills and technology,” he noted.
President Hichilema added that the project was “designed to attract investors, retirees, and workers from around the world, including Zambian stakeholders, encouraging their active participation in this unique development model” as well as drive economic development not only in Kazungula and Livingstone but across Zambia.