A total of 82.1 million U.S. dollars were invested in Zambia in the first five months of this year, 98 percent of which are foreign, Sunday Mail reported.

Zambia Investment Center (ZIC) marketing manager Musiyalela Sitali was quoted as saying here that local investment is still low and the ZIC has initiated a sensitization policy and new incentives to encourage a higher local involvement.

He said Saturday that the investment in the five months created 1,500 jobs and there has been a particularly high investment increase in the construction and manufacturing sectors.

ZIC Product and market development manager Lackson Kanyemba was quoted as saying that the country expects 400 million dollars investment by next year.

He said the enhanced foreign exchange earnings in the export market, the increased price of copper and the improved inflation rate are encouraging investors in the Zambian market.

Rapid investment in the mining sector has also impacted well on the economy and his country will soon see increased revenue and a reduction in poverty, said Kanyemba.

Source: Xinhua