President HH Invites Italian Investment

 President HH Invites Italian Investment

President Hakainde Hichilema has urged Italian investors to explore business opportunities in the production of electric car parts through partnerships with Zambian investors.

President Hichilema says Zambia holds substantial portions of raw materials for production of electric cars which need to be explored.

He said his administration wants value to be added to raw materials within the country for mutual benefit.

Speaking when he met visiting Italian President Sergio Mattarella at State House this morning, President Hichilema applauded the Italian government for its continued support to Zambia in various ways through the EU-AU partnership.

President Hichilema stated that Italy played a key role in Zambia’s efforts to access part of the 150-billion Euros EU-AU infrastructure funds for Africa.

The President also observed that Italian companies have played a huge role in Zambia’s economic development through investments in sectors such as construction and agribusiness.

And President Mattarella said his visit to Zambia is significant as it comes about 30 years after an Italian President last visited.

He pledged his country’s full support towards Zambia’s positive relationship with the International Monetary Fund (IMF) to restructure debt.

President Mattarella assured President Hichilema that Zambia can count on his country for full support while emphasising on the need to revitalise old relations.

Meanwhile, the visiting Italian leader applauded President Hichilema’s speech to the EU Parliament saying it brought out key issues such as upholding the rule of law, youth empowerment and upholding democracy, values that his country shares with Zambia.