Minister of Commerce, Trade and Industry, Chipoka Mulenga, has clarified that the meeting that took place between a Vietnamese investor, the Zambia Development Agency and some ministers on the proposed $72 Billion investment in Luapula province was merely a consultative and not implementation meeting.
Mr. Mulenga said this in the National Assembly today, when he delivered a ministerial statement on the $72 Billion proposed investment in Zambia by Viet- Zam diversified cooperation limited.
He said no agreement has been signed on the proposed investment that involves the allocation of 6 million hectors of land to the investor in the said province.
“During the consultative meeting , it was made clear that awarding 6 million hectors of land was not attainable and the investor was encouraged to apply for a smaller portion of land,” said Mr. Mulenga.
He said government did not make any action on the proposal, saying that it is aware of the risks associated with allocating the said huge piece of land to a foreign investor.
