Zambia Signs Us$2.14 Billion Mous with Uae

Zambia and the United Arab Emirates have signed memoranda of understanding worth a combined US$2.14 billion at the Zambia-UAE Business Forum in Abu Dhabi.

President Hakainde Hichilema says the agreements are part of efforts to attract investment and grow the Zambian economy under the Grow Zambia Agenda.

President Hichilema says Zambia has much to learn from the UAE, particularly in how the country has used its natural resources to develop its economy and improve living standards.

He says the Government wants to double the size of the Zambian economy, creating more revenue for public services, jobs and business opportunities.

President Hichilema says Zambia and the UAE are also expected to sign a Comprehensive Partnership Agreement aimed at increasing trade between the two countries.

He says Government will continue to prioritise increased trade and domestic reforms to attract the investment needed to grow the economy.

President Hichilema is in Abu Dhabi for a two-day working visit at the invitation of UAE President Sheikh Mohamed bin Zayed Al Nahyan.