Zambia and UAE Commit to Turning Bilateral Talks Into Tangible Investments

President Hakainde Hichilema has told a visiting United Arab Emirates delegation that Zambia is ready to move beyond memoranda of understanding and translate diplomatic engagements into concrete, bankable transactions.

Speaking yesterday when he met UAE Minister of State for Foreign Trade Dr Thani Al Zeyoudi at State House, President Hichilema said Zambia has completed its fiscal consolidation phase and entered a new era focused on accelerating economic growth. He urged the delegation to diversify its investment interests across multiple sectors, emphasising that the country is prioritising not only billion-dollar flagship projects such as the Mopani deal but also mid-sized investments valued between 50 and 100 million US dollars.

The President identified energy security, renewable energy expansion, agriculture, tourism, transport and logistics as priority areas for deeper cooperation, particularly as Zambia seeks to strengthen its industrial base against the backdrop of climate change and recent drought challenges.

Dr Al Zeyoudi confirmed that Zambia is now the UAE's largest trading partner in Africa, with non-oil bilateral trade growing by 65 percent last year to reach 3.4 billion US dollars. He noted that UAE-based International Resources Holding has been operating in Zambia's mining sector for two years, employing over 10,000 workers, with further expansion planned.

The UAE delegation reaffirmed its commitment to supporting Zambia's industrialisation agenda through investments that promote economic diversification and job creation. Commerce Minister Chipoka Mulenga, Technology Minister Felix Mutati and Finance Minister Stumbeko Musokotwani all welcomed the outcomes of the bilateral discussions.