Zambia News

ZDA Signes $135m Investment Promotion Deal

With Chenguang Biotech Limited, the Zambia Development Agency (ZDA) has signed an Investment Promotion and Protection Agreement for an investment of approximately 135 million dollars.

The money will be used to produce and process stevia, paprika, and marigolds for use in human and animal medicine.

ZDA Chenguang Biotech has been guaranteed of the government’s support in its attempts to become a top producer and grower of goods for medical use by acting director general ALBERT HALWAMPA.

According to Mr. HALWAMPA, ZDA would help the institution find the targeted human resource it needs to participate in optimum productivity.

Mr. HALWAMPA urged young people to take advantage of the employment opportunities provided by Chenguang in his remarks during the signing ceremony.

LIU FENG HAI, the chief executive officer of Chenguang Biotech, claimed that the labor scarcity has caused a delay in the execution of the investment plan.

Over 1,700 permanent jobs and over 8,000 seasonal jobs will be created for the areas where it works, according to Mr. FENG HAI, after the investment plan is completed.

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