Zambia and Japan recently signed an agreement to promote and protect investments between the two countries.
According to a statement from Japan’s Ministry of Foreign Affairs, the Agreement between Japan and the Republic of Zambia for the Promotion and Protection of Investments was signed during a ceremony held in Tokyo.
The official document was signed by Chipoka Mulenga, Zambia’s Minister of Commerce, Industry, and Trade, and Takeuchi Kazuyuki, Japan’s Ambassador Extraordinary and Plenipotentiary to Zambia.
This agreement between Japan and Zambia aims to enhance investment protection and promotion between the two nations. It outlines the treatment of investment activities and pre-investment phases, ensuring national treatment during the post-establishment phase and most-favored-nation treatment in both pre-establishment and post-establishment phases.
It also includes provisions on fair and equitable treatment, prohibition of performance requirements, conditions for expropriation and compensation, freedom of transfer, and dispute settlement procedures.
Zambia has focused on anti-corruption measures, the rule of law, and good governance to attract foreign investments.
The country is also prioritizing debt restructuring and economic reforms, making them key pillars of its development strategy.
With its rich mineral resources, particularly copper and cobalt, Zambia holds significant economic potential and is attracting strong interest from Japanese companies.
The Japan-Zambia Investment Agreement is expected to further improve the investment environment and strengthen economic ties between the two nations.
The agreement will come into effect on the 30th day after the last notification has been received.
