{"id":435369,"date":"2011-06-03T09:44:37","date_gmt":"2011-06-03T09:44:37","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/06\/03\/president-commissions-u-s-15-million-hitachi-factory\/"},"modified":"2011-06-03T09:44:37","modified_gmt":"2011-06-03T09:44:37","slug":"president-commissions-u-s-15-million-hitachi-factory","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/06\/03\/president-commissions-u-s-15-million-hitachi-factory\/","title":{"rendered":"President Commissions U.S.$15 Million Hitachi Factory"},"content":{"rendered":"
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\"The<\/a><\/p>\n

3 June 2011<\/p>\n

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President Rupiah Banda yesterday commissioned the high-class US$15 million Hitachi construction machinery re-manufacturing factory in Lusaka with a declaration that Zambia remains on course to become the economic hub of southern Africa.<\/p>\n

The factory, situated on the road to Lusaka International Airport, is the first ever investment in the manufacturing sector by a Japanese company in the country and President Banda said this could be a gateway for more Japanese firms in the country.<\/p>\n

“This is a clear indication that Zambia is indeed ripe for quality investment from all over the world.<\/p>\n

“I am particularly delighted that Hitachi, which is one the largest manufacturers of construction,mining and earthmoving equipment in the world, chose Zambia as a regional hub for this investment.<\/p>\n

It is exciting to note that Zambia will provide services of Hitachi to the surrounding countries,” Mr Banda said.<\/p>\n

He said his Government would render the necessary support to the company to ensure that it succeeded and became a model in the sub-Saharan region.<\/p>\n

President Banda said the project would benefit the Zambian people through job creation and transfer of technology from Japan to Zambia.<\/p>\n

“I am made to understand that Zambia and the entire region have never had the kind of technology Hitachi is proposing.<\/p>\n

“With this development, I am certain that Zambia shall become the front-runner for earth moving equipment parts in the region,” he said.<\/p>\n

President Banda said Zambia admired the achievements that Japan had made.<\/p>\n

The Government would, therefore, would continue to cooperate with Japan not only the area of official development assistance but also in trade and investment.<\/p>\n

The president said Zambia would ensure that it implemented the Tokyo International Conference on African Development (TICAD) action plan for increased trade and investment between Africa and Japan.<\/p>\n

He said despite many years of warm relations, investment flows from Japan to Zambia had remained low but was optimistic that the coming of Hitachi would spark more opportunities for Japanese investments in Zambia.<\/p>\n

President Banda said the first phase of the project that goes up to December this year would mark the launch of further expansion activities by Hitachi and further strengthen its presence in major industrial entities and countries in the region.<\/p>\n

The launch was attended by Science and Technology Minister Peter Daka, Lusaka Province Minister Charles Shawa, Commerce, Trade and Industry Minister Felix Mutati and several other Government officials.<\/p>\n

Mr Mutati said when Hitachi informed the Government about its intention to invest in Zambia, President Banda directed him and Mr Daka to ensure that the investment did not fail because it spoke to his vision of providing infrastructure development to the Zambian people and high-quality jobs.<\/p>\n

Japanese Ambassador to Zambia Akio Egawa said the project started with the exploratory visit by a team of investors after which Hitachi revealed its intention in January 2010.<\/p>\n

He said the development was consistent with the Japanese government’s 2008 pledge during the TICAD conference to boost economic growth in Africa.<\/p>\n

Mr Egawa said Japanese investment in Africa had reached $4.2 billion in Africa by 2009 against the earlier target of $3.5 billion.<\/p>\n

He said the people of Japan were doing everything possible to come out of the effects of the earthquake and tsunami disaster which occurred in March this year.<\/p>\n

And visiting Hitachi manufacturing vice-president Yukio Arima, who is also the chief executive officer, said the firm was happy that the Zambian Government supported the project.<\/p>\n

<\/p>\n

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