Japan’s Minister of Economy, Trade, and Industry (METI), Mr. Nishimura Yasutoshi, has affirmed his government’s dedication to deepening bilateral cooperation with Zambia through increased investment in the mining sector.
Mr. Yasutoshi, who is also a member of the ruling Liberal Democratic Party of Japan and serves in the House of Representatives, expressed confidence in Zambia’s democratic political system and stable environment, ensuring attractive returns on investment.
Highlighting Zambia’s significance to Japan, Mr. Yasutoshi emphasized the country’s abundant critical mineral resources, making it an essential partner for Japanese private companies seeking investment opportunities.
The Japanese Minister further stated that investment from Japan would not only benefit the companies involved but would also have a positive trickle-down effect, including capacity building and technology transfer, benefiting the local population.
These remarks were made during a courtesy call by Zambia’s Ambassador to Japan, Dr. Tobias Mulimbika, at the Ministry of Economy, Trade, and Industry in Japan.
Dr. Mulimbika expressed gratitude for the longstanding cooperation between Zambia and Japan, which has been in place since 1964. He acknowledged the cordial relationship and the continued collaboration in various sectors of the economy.
During the meeting, Dr. Mulimbika disclosed that the Zambian Embassy in Tokyo is actively promoting investment opportunities in the mining sector. As part of these efforts, he announced an upcoming investment mission to Zambia comprising ten Japanese companies from the mining sector.
Accompanied by Minister Nishimura and officials from the Japan Organisation for Metals and Energy Security (JOGMEC) and the International Affairs Division Metals Strategy Department, Agency for Natural Resources and Energy Mineral and Natural Resources, the delegation will explore investment prospects in Zambia’s mining sector.
The investment mission is scheduled from 6th to 11th August 2023 and will feature a roundtable business meeting in Lusaka. Officials from the Ministry of Mines and Minerals Development (MMMD) and Commerce, Trade, and Industry will also participate, along with stakeholders from the Zambia Chamber of Mines and the private sector.
With Japan’s commitment to enhancing economic ties with Zambia, the investment mission promises to create new opportunities and further strengthen the cooperation between the two countries.