LUSAKA, Nov. 22 (Xinhua) -- Zambia is holding an an investment expo for its Northern Province, seeking to unlock the massive natural resources the area is endowed with, an expert said on Thursday.
Zambia is holding the Northern Province Tourism and Investment Expo in Mbala district in Northern Province, which runs from November 20-24, under the theme "Unlocking Investment Opportunities 100 Years after the End of the First World War".
Misheck Mwanza, director of the Zambia Institute of Diplomacy and International Studies and an economist by profession, said there is no reason for the country to be poor as it is endowed with abundant natural resources.
He said the country need to exploit natural resources endowed in various parts of the country and that the holding of the expo would go a long way in doing that.
"Zambia is needlessly listed among the poor countries because it has so much potential and the resource endowments are plenty. What needs to be done is the implementation of great ideas and moving away from mere rhetoric and walk the talk," he said.
According to him, there was need to publicize the potential and resource endowments that each individual province possesses so as to attract the right kind of investment for any given area of the country.
Zambia, he said, should put in place a concrete framework of attracting investment to particular provinces, adding that the system has proved fruitful in some countries where it has been done.
"It would be good for every province to have an expo as often as it is practically possible because expos are good platforms for showcasing resources. We therefore need to take advantage of every opportunity to showcase what we have to offer and encourage both local and international investors to invest in these places," he added.
The tourism and investment expo has brought together private equity funds managers, development finance institutions, bankers, institutional investors, and project developers to review and transact on investment projects in the province.
It has also brought together leading international and Zambian decision makers, business leaders, investors, and entrepreneurs to dialogue and transact on bankable investment opportunities in the Northern Province of Zambia.
The main objective of the fair is to help unlock the private sector finance and investment in Zambia in the province, according to organizers.
It also seeks to provide a platform for Zambian start-up entrepreneurs, and growth oriented companies to access capital and advisory services from global investors as well as to raise awareness and help mobilize financial resources in strategic economic sectors.