President Hakainde Hichilema has urged Toyota Motors to expand its investment portfolio in Zambia, in order to support the country’s economic growth agenda, through diverse sectors.
President Hichilema states that government wants Toyota Motors to diversify its investment to other areas such as the energy sector.
The President said this in Nagoya, Japan, after a meeting with Toyota Tsusho whose delegation was led by the company Chief Executive Officer Ichiro Kashitani.
ZANIS reports that the Head of State noted that the government has put in place reforms suitable for foreign investment and are beneficial to the local people.
He noted that the company can leverage on the conducive environment by the government to support its manufacturing of various products.
And the President asked Toyota to consider investing in value addition owing to the country’s rich endowment in critical minerals such as copper, cobalt, nickel, manganese and lithium that can be used in the manufacturing of car components.
“It is important for you to look at value addition in Zambia but connected to your original products portfolio,” President Hichilema
The Head of State hailed the Toyota Tsusho for expressing interest to resume the solar power station and battery project feasibility study in Zambia for stable power supply.
He urged the corporation to engage the Zambian government when need arises so that the process can be quickened.
He also noted that training programmes being offered to young Zambians, company employees and customers are commendable as they impart skills and build capacity.
Meanwhile President Hichilema was impressed with the working principle of the company, calling on Zambians to emulate the culture of working together for a common goal towards economic growth.
He noted that collaboration of various sectors will lead to economic growth and also job creation, through imparting practical skills in young people.
“I would like us as a country to realise that we will succeed by working together as a country, different sectors, businesses towards one agenda and objective which is to grow our economy,” the President stated.
And President Hichilema expressed interest in the Toyota agricultural machinery to supplement the country’s agriculture, as one of the key sectors.
As the world’s largest automobile manufacturer, producing approximately 10 million vehicles annually, Toyota’s interest in expanding its investment in Zambia is a game changer towards achieving economic development.
