Zambia and UAE sign investment deals worth up to $2.4 billion

Zambian President Hakainde Hichilema and UAE President Sheikh Mohamed bin Zayed Al Nahyan have met in Abu Dhabi to strengthen bilateral economic ties. During the Zambia-UAE Business Forum, several agreements worth between US$2.14 billion and US$2.4 billion were signed across multiple sectors.

Key projects include the development of a Medical City near Kenneth Kaunda International Airport in Lusaka by DIHAD Sustainable Project Management, as well as agreements regarding logistics, technology, biotechnology, and port services. The discussions also focused on renewable energy, infrastructure, and the ongoing negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to create a broader framework for trade.

President Hichilema emphasized that these investments align with the ‘Grow Zambia Agenda,’ aimed at accelerating economic growth, job creation, and private-sector investment. He noted that Zambia’s natural resources, particularly copper, present significant opportunities for international partners.