Zambian President Levy Mwanawasa on Saturday assured foreign investors of a conducive business environment, saying his country is stable for investors.

The government endeavors to give all the support and protection to the investors wishing to invest in Zambia, the president said when he received His Royal Highness of Saudi Arabia Prince Alwaleed Bin Talal Bin Abdula Aziz Alsaud at state house. He also ruled out any possibilities of nationalization.

The president urged the investors to explore the business potential in mining, agriculture and tourism sectors.

Mwanawasa called on investors to take advantage of the peace that has continued to prevail in the country since independence in 1964.

Speaking earlier at the same function, His Royal Highness said he is committed to contributing heavily towards the growth of the Zambian economy.

The Saudi Prince stressed that his company is going to invest heavily in the hotel industry, adding that the Zambian people will benefit much from his investments.

The prince, who arrived here early this morning for a brief visit, left here Saturday afternoon for Malawi to continue his 18- nation visit in Africa.

Source: Xinhua