President Hakainde Hichilema has called on Toyota Tsusho Corporation to establish a parts manufacturing plant in Zambia, aiming to integrate with the company’s existing operations in South Africa. The move is expected to create employment opportunities, boost industrialization, and strengthen Zambia’s position as a key player in the regional automotive supply chain.
Speaking in Japan during a high-level meeting with Toyota Tsusho’s leadership, led by Group President and CEO Ichiro Kashitani, President Hichilema emphasized the strategic importance of investing in Zambia’s manufacturing sector. He urged the corporation to take advantage of the country’s business-friendly environment, stable economic policies, and abundant workforce to set up production facilities that will contribute to the country’s industrial growth.
FOCUS ON ENERGY SECURITY AND DIVERSIFICATION
In addition to advocating for automotive investment, President Hichilema encouraged Toyota Tsusho Corporation to expedite feasibility studies for the proposed PV solar power station in Zambia. This initiative aligns with the government’s broader strategy to diversify the nation’s energy mix and reduce dependence on hydroelectric power, which has been impacted by fluctuating water levels due to climate change.
The President reaffirmed his administration’s commitment to energy security and sustainable development, highlighting that renewable energy investments such as solar power are crucial for ensuring long-term economic resilience. With Zambia’s abundant sunlight and growing demand for reliable electricity, the proposed solar power project is expected to enhance energy generation capacity, support industrial growth, and attract more foreign investment.
ECONOMIC BENEFITS FOR ZAMBIA
President Hichilema’s state visit to Japan comes at a time when Zambia is seeking to strengthen its economic ties with global partners, particularly in industries that can drive job creation, technology transfer, and value addition. Various stakeholders have urged the President to ensure that his engagements with international investors translate into tangible benefits for Zambians, including skills development, increased local production, and expanded trade opportunities.
As Zambia positions itself as a competitive investment destination, the government remains committed to fostering an enabling business environment, improving infrastructure, and implementing policies that attract multinational corporations. The engagement with Toyota Tsusho is seen as a step toward economic transformation, with expectations that further discussions will lead to concrete agreements that enhance Zambia’s participation in the global supply chain.
The outcome of these discussions could significantly impact Zambia’s automotive and energy sectors, paving the way for industrial expansion and increased foreign direct investment in the coming years.
By Darius Choonya
