Korean Manufacturing Copanies
PRESIDENT Sata is disappointed that South Korea's second largest auto manufacturer Daewoo and electronics company Samsung have no manufacturing or assembling presence in Zambia and wants the situation to ...
Korean Manufacturing Companies
PRESIDENT Sata with Samsung MENA/Africa Business Development Division Vice-President Chao Sung Jun, Samsung marketing division manager Jeon Min Woo (second from left) and executive vice-president for investment business David Kim shortly before the meeting at Shilla Hotel in Seoul, South Korea.
PRESIDENT Sata is disappointed that South Korea’s second largest auto manufacturer Daewoo and electronics company Samsung have no manufacturing or assembling presence in Zambia and wants the situation to change.
President Sata was speaking in South Korea yesterday as he implored business houses here – especially Daewoo and Samsung, which he personally introduced to Zambia as a businessman – to take their investment to the southern African country.
“I introduced these companies before I became a politician but it is a pity that neither of them have set up even a showroom in Zambia,” Mr Sata said.
President Sata advised Korean businesses that they were better off investing in Zambia, which has a huge land mass – at over 750,000 square kilometres – rather than struggle for space in their country to set up businesses.
“You have very little land here and yet you continue to set up factories and yet in Zambia there is plenty of land and very few manufacturing companies,” President Sata said. “This is why we have continued to export raw materials.”
Mr Sata said his government is keen to attract serious investors that must take advantage of the political stability Zambia provides, including vast natural resources and sound investment policies the country has.
“We need more Korean industrialists, engineers and technologists, among others to come to Zambia. Please come to this region,” President Sata said.
He told Korean investors that they “can make Zambia a springboard for economic growth. We are ready to facilitate visa applications and other investment requirements.”
President Sata was speaking at a Zambia/Korea investment and business luncheon hosted in his honour by four major Korean business associates at the Shilla Hotel.
The business associates are the Korean Chamber of Commerce and Industry (KCCI), The Federation of Korean Industries (FKI), Korean International Trade Association (KITA) and the Korean Federation of Small and Medium Business (Kbiz).
Mr Sata was accompanied by Minister of Commerce, Trade and Industry Bob Sichinga, Minister of Foreign Affairs Given Lubinda, Minister of Agriculture and Livestock Emmanuel Chenda and Minister of Tourism and Arts Sylvia Masebo.
“Korea has more technology but no land and the labour here is quite expensive. On the other hand, Zambia has vast land and labour is affordable. So from this, you can see that there is more room for investment,” he said.
Earlier, chairman of KCCI Kyung Shik Sohn said Korean investors are impressed with Zambia’s steady economic growth describing it as a shining example in the region.
He is optimistic that President Sata’s visit to Korea will lead to more trade and investment co-operation between the two countries.
Mr Kyung observed that since the establishment of economic ties between the two countries in 1990, trade has doubled in the last three years from US$300 million in 2008 to US$520 million in 2011.
“Korea has provided industrial goods to Zambia and the latter has provided mineral resources, so the co-operation between the two countries has continued to advance and there is room for future growth.
“We hope President Sata’s visit can strengthen our friendship and economic ties,” Mr Kyung said. “Koreans are ready to advance the automobile, electronic and other technology in your country.”
This shows how passionate the president want this country to develop and have high raise in employment levels. Having a samsung factory in zambia will make the company touch most of the southern african countries like malawi, zambabwe, mozambique, angola, nambia and bostwana. Good job Mr President, you speak with passion and concern for the zambian.
It is not just about land! Electricity is rationed, roads need working on, an almost non-existent railway system, the health sector needs intensive care to resusitation etc The list is endless but these can be the starting point.
TROUBLE IS WE SELL THEM MATERIAL IN ITS RAW FORM. SO, THEY ARE NOT IN A HURRY TO SET UP MANUFACTURING INDUSTRIES IN ZAMBIA. IN THE NEXT BUDGET INITIATE A MANUFACTURING COMPANY (AT LEAST ONE) WITH THE HELP OF CHINA OR ANY OTHER COOPERATING COUNTRY OR COMPANY TO GIVE THEM A SIGN THAT THE SELLING OF MATERIAL TO THOSE COUNTRIES IS NEARING THE END- WE SHALL SOON START SELLING THEM FINISHED PRODUCTS. YOU WILL SEE HOW THEY WILL START JUMPING AROUND TO COME AND SET UP THOSE MANUFACTURING INDUSTRIES. BUT MAYBE BY THEN WE WILL HAVE NO TIME FOR THEM. WE PLEADED WITH THEM LONG ENOUGH.
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PRESIDENT Sata is disappointed that South Korea’s second largest auto manufacturer Daewoo and electronics company Samsung have no manufacturing or assembling presence in Zambia and wants the situation to change.
President Sata was speaking in South Korea yesterday as he implored business houses here – especially Daewoo and Samsung, which he personally introduced to Zambia as a businessman – to take their investment to the southern African country.
“I introduced these companies before I became a politician but it is a pity that neither of them have set up even a showroom in Zambia,” Mr Sata said.
President Sata advised Korean businesses that they were better off investing in Zambia, which has a huge land mass – at over 750,000 square kilometres – rather than struggle for space in their country to set up businesses.
“You have very little land here and yet you continue to set up factories and yet in Zambia there is plenty of land and very few manufacturing companies,” President Sata said. “This is why we have continued to export raw materials.”
Mr Sata said his government is keen to attract serious investors that must take advantage of the political stability Zambia provides, including vast natural resources and sound investment policies the country has.
“We need more Korean industrialists, engineers and technologists, among others to come to Zambia. Please come to this region,” President Sata said.
He told Korean investors that they “can make Zambia a springboard for economic growth. We are ready to facilitate visa applications and other investment requirements.”
President Sata was speaking at a Zambia/Korea investment and business luncheon hosted in his honour by four major Korean business associates at the Shilla Hotel.
The business associates are the Korean Chamber of Commerce and Industry (KCCI), The Federation of Korean Industries (FKI), Korean International Trade Association (KITA) and the Korean Federation of Small and Medium Business (Kbiz).
Mr Sata was accompanied by Minister of Commerce, Trade and Industry Bob Sichinga, Minister of Foreign Affairs Given Lubinda, Minister of Agriculture and Livestock Emmanuel Chenda and Minister of Tourism and Arts Sylvia Masebo.
“Korea has more technology but no land and the labour here is quite expensive. On the other hand, Zambia has vast land and labour is affordable. So from this, you can see that there is more room for investment,” he said.
Earlier, chairman of KCCI Kyung Shik Sohn said Korean investors are impressed with Zambia’s steady economic growth describing it as a shining example in the region.
He is optimistic that President Sata’s visit to Korea will lead to more trade and investment co-operation between the two countries.
Mr Kyung observed that since the establishment of economic ties between the two countries in 1990, trade has doubled in the last three years from US$300 million in 2008 to US$520 million in 2011.
“Korea has provided industrial goods to Zambia and the latter has provided mineral resources, so the co-operation between the two countries has continued to advance and there is room for future growth.
“We hope President Sata’s visit can strengthen our friendship and economic ties,” Mr Kyung said. “Koreans are ready to advance the automobile, electronic and other technology in your country.”
This shows how passionate the president want this country to develop and have high raise in employment levels. Having a samsung factory in zambia will make the company touch most of the southern african countries like malawi, zambabwe, mozambique, angola, nambia and bostwana. Good job Mr President, you speak with passion and concern for the zambian.
It is not just about land! Electricity is rationed, roads need working on, an almost non-existent railway system, the health sector needs intensive care to resusitation etc The list is endless but these can be the starting point.
TROUBLE IS WE SELL THEM MATERIAL IN ITS RAW FORM. SO, THEY ARE NOT IN A HURRY TO SET UP MANUFACTURING INDUSTRIES IN ZAMBIA. IN THE NEXT BUDGET INITIATE A MANUFACTURING COMPANY (AT LEAST ONE) WITH THE HELP OF CHINA OR ANY OTHER COOPERATING COUNTRY OR COMPANY TO GIVE THEM A SIGN THAT THE SELLING OF MATERIAL TO THOSE COUNTRIES IS NEARING THE END- WE SHALL SOON START SELLING THEM FINISHED PRODUCTS. YOU WILL SEE HOW THEY WILL START JUMPING AROUND TO COME AND SET UP THOSE MANUFACTURING INDUSTRIES. BUT MAYBE BY THEN WE WILL HAVE NO TIME FOR THEM. WE PLEADED WITH THEM LONG ENOUGH.
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