President Hichilema Opens Lobito Corridor Private Sector Investment Forum in Lusaka
On Thursday 8 February, His Excellency President Hakainde Hichilema graced the momentous opening of the Lobito Corridor Private Sector Investment Forum at Ciela Resort in Lusaka - the first of its kind outside the United States.
The forum supports the Presidential Priority on Trade Facilitation and Infrastructure Development where the PDU is working with the Ministry of Commerce, Trade and Industry and other government ministries to streamline corridors for movement of goods and persons. This will position Zambia as a logistics hub, promote smart transport and other trade logistics facilities in line with the nation’s key value chains: mining, agriculture, tourism and manufacturing.
Objectives of the Forum:
Facilitate Trade: The forum aims to foster robust trade networks, promoting seamless exchange between nations.
Grow Value Chains: By emphasizing value chains, we’re paving the way for sustainable economic growth.
Cluster Development: The mining and agriculture sectors will witness dynamic cluster development, aligning with the corridor Member States’ ambitious goals.
Industrialization for Prosperity: This strategic move will ignite economic growth, boost employment opportunities, and significantly alleviate poverty.
International Collaboration: The Lobito Corridor Private Sector Investment Forum follows the historic Lobito Corridor Transit Transport Facilitation Agency (LCTTFA) Agreement signed by Zambia and the Governments of Angola, the Democratic Republic of the Congo, and Zambia on January 27, 2023, in Lobito, Angola.
Global Support
The United States of America Government, the European Union, the Africa Development Bank, and the Africa Finance Corporation are steadfast partners in the Lobito Corridor’s development.
Together with the Lobito Corridor Member States, we’re committed to enhancing the railway infrastructure linking Zambia to Angola. This vital connection spans from Chingola via Jimbe Border Post to Lucanco in Angola, seamlessly integrating with the existing CFB railway line leading to the port of Lobito.
The Lobito Corridor Private Sector Investment Forum, a groundbreaking initiative, zeroes in on the following sectors:
Transportation and Logistics
Clean Energy
Critical Minerals
Agribusiness
The Zambia-Lobito Rail Line involves constructing approximately 550 km of rail line within Zambia, stretching from the Jimbe border to Chingola on the Copperblet. Additionally, we’re developing 260 km of main feeder roads within the corridor. The rail line is poised to revolutionize regional trade, connecting our host countries to global markets.
Let’s propel economic expansion, foster sustainable development, and create a brighter future for all!