20 June 2011, PUTRAJAYA: Zambia is constructing a special economic zone planned by Malaysia’s Kulim Hi-Tech Park and Japan International Cooperation Agency, said its Finance and National Planning Minister, Dr Situmbeko Musokotwane.

He said the economic zone was the result of learning from countries like Malaysia to develop Zambia as a middle- income country, adding that the country is now ready to receive business investments from Malaysia.

“At a time when Malaysia was poor, business communities from America and Japan took the risk to come and invest here. I believe that Africa, especially Zambia, is ready to give them investment opportunities,” he told reporters on the sidelines of the Langkawi International Dialogue (LID) 2011 here.

The 1,700-hectare Kulim Hi-Tech Park in Kedah is the first high-technology industrial park in Malaysia.

It targets technology-related industries, primarily in the fields of advanced electronics, telecommunications, biotechnology, advanced materials, research and development and emerging technologies.

Musokotwane said the openness and business practice learnt from Malaysia had yielded positive results in foreign direct investments to his country.

“We have since received about US$5bil (RM15bil) in investments in the mining sector, and also major investments as a result of opening up to countries like Japan.

“There is a factory currently under construction by Hitachi to fabricate heavy equipment spare parts for other African countries like Congo, Tanzania and Angola,” he added.

Musokotwane also disclosed that a Malaysian Islamic banking institution had been given a licence to operate in Zambia.

Agreeing with LID founder and Malaysia’s former prime minister Tun Dr Mahathir Mohamad that the World Bank should focus more on African countries, he said the bank should help those countries create infrastructures that would leverage their private sector, rather than focusing on small projects.

“In Zambia, we have vast land suitable for agriculture but for this land to be productive, it requires electricity, dams and roads for use by the farmers.

“I believe this is the test that the World Bank should focus on,” he said.

Meanwhile, land-locked Lesotho is giving utmost priority to education to generate skilled graduates and help eradicate poverty, its Prime Minister, Pakalitha Bethuel Mosisili, said.

Emphasising that education was the best way to improve the living standards of his people, he said:

“The best practice is education, education, education but not education for the sake of education, over and above that skills”.

He said education, which contributed to human capital development, was vital for its people as it could pave the way to create jobs in the country and promote entrepreneurship.

“With education, people graduating from our institutions will not leave the country to seek jobs but (instead) create jobs as they have the skills.

“For example, by starting up businesses in the country that would create job opportunities,” Mosisili told Bernama after taking part in a panel discussion on “Poverty Eradication” at the ongoing Langkawi International Dialogue on Sunday.

He said Malaysia’s Limkokwing University, which has a campus in Lesotho, was a major investor in the country, as well as in terms of human capital development.

Limkokwing University also has campuses in Botswana and Swaziland.

Meanwhile, Mosisili said trade was also a platform that could help uplift the economic status of his nation. Source: Bernama

 

 

 

PUTRAJAYA, June 20 (Bernama) — Zambia is constructing a special economic

zone planned by Malaysia”s Kulim Hi-Tech Park and Japan International

Cooperation Agency, said its Finance and National Planning Minister, Dr

Situmbeko Musokotwane.

He said the economic zone was the result of learning from countries like

Malaysia to develop Zambia as a middle income country, adding that the country

was now ready to receive business investments from Malaysia.

“At a time when Malaysia was poor, business communities from America and

Japan took the risk to come and invest here. I believe that Africa, especially

Zambia, is ready to give them investment opportunities,” he told reporters on

the sidelines of the Langkawi International Dialogue (LID) 2011 here.

The 1,700 hectare-Kulim Hi-Tech Park in Kedah is the first high-technology

industrial park in Malaysia.

It targets technology-related industries, primarily in the fields of

advanced electronics, telecommunications, biotechnology, advanced materials,

research and development and emerging technologies.

Musokotwane said the openness and business practice learnt from Malaysia had

yielded positve results in foreign direct investments to his country.

“We have since received about US$5 billion in investments in the mining

sector, and also major investments as a result of opening up to countries like

Japan.

“There is a factory currently under construction by Hitachi to fabricate

heavy equipment spare parts for other African countries like Congo, Tanzania and

Angola,” he added.

Musokotwane also disclosed that a Malaysian Islamic banking institution had

been given a licence to operate in Zambia.

Agreeing with LID founder and Malaysia”s former prime minister Tun Dr

Mahathir Mohamad that the World Bank should focus more on African countries, he

said the bank should help those countries create infrastructures that would

leverage their private sector, rather than focusing on small projects.

“In Zambia, we have vast land suitable for agriculture but for this land to

be productive, it requires electricity, dams and roads for use by the farmers.

“I believe this is the test that the World Bank should focus on,” he said.

– BERNAMA

 

 

 

 
PUTRAJAYA, June 18 (Bernama) — Malaysian and African entrepreneurs must leave no stone unturned in exploring each other’s potential to the fullest as the current trade and investment level remains largely untapped, Deputy Prime Minister Tan Sri Muhyiddin Yassin said today.

Saying that geographical distance was no longer a hindrance between them, he urged companies from both sides to step up the ante in creating new and profitable market opportunities.

The move would also help build sustainable economic prosperity by synergising Malaysia-Africa business partnerships and grow their economic cake together, he said when opening the Malaysia-Africa Business Forum (MABF) at the Putrajaya International Convention Centre here.

The MABF, a value added feature of the three-day 9th Langkawi International Dialogue which begins Sunday, has a strong African representation.

Muhyiddin lamented that Malaysia’s trade with Africa totalled only US$7.8 billion last year, something that could be increased with more partnerships.

“Contrast this with the US$12 billion trade Malaysia had with Germany last year, a country one per cent the size of Africa. These figures speak for themselves. As such I urge you to be proactive,” said Muhyiddin.

Also present at the forum was former Prime Minister Tun Dr Mahathir Mohamad, Uganda Vice-President Edward Sekandi and International Trade and Industry Minister Datuk Seri Mustapa Mohamad.

Muhyiddin called on African delegates to identify opportunities in their home countries and match them with Malaysian partners, meet with government agencies such as Malaysia External Trade Development Corporation (MATRADE) and Malaysian Investment Development Authority (MIDA) on trading and investing in Malaysia, and explore marketing and technical collaborations with their Malaysian counterparts.

He said they could scour for potential link-ups in Malaysia’s Economic Transformation Programme which offers tremendous opportunities for the private sector, including foreign investors, citing the 131 Entry Point Projects (EPPs) worth US$145 billion and 60 business opportunities worth US$117 billion under the programme.

“It encapsulates various industries which have greater potential to contribute significantly to the growth of our economy, including electrical & electronics, education, tourism, healthcare and education.

“As foreign investors, we invite you to be part of this exciting growth, and tap the vast business opportunities available either on your own or in partnership with Malaysians,” he said.

“With the various initiatives and programmes mentioned earlier, the Malaysian government has been playing its role as the facilitator. It is now for you as entrepreneurs to play your role as the executor,” he added.

The inaugural MABF, themed “Exploring New Dimensions”, is an important event for Malaysia, said Muhyiddin.

He expressed confidence that it could serve as a springboard to generate fresh business ideas and build new business partnerships between the private sectors of Malaysia and Africa.

Muhyiddin said Malaysia and Africa were in many ways “natural partners” as they were blessed with natural resources, share a common business language and have a relatively young population.

“It is thus only natural that we work together to build on the opportunities and potential available,” he said.

– BERNAMA