Los Angeles Economic Development Corporation Pledges To Help Zambian Companies
WASHINGTON DC- Friday, September 2, 2017 - The World Trade Center Los Angeles (WTCLA) and the Los Angeles County Economic Development Corporation (LAEDC) have pledged to help Zambian companies seeking to explore markets in the State of California of the United States of America.
WTCLA is an affiliate of the LAEDC and is Los Angeles County's leading promoter and facilitator of global connections and inbound foreign direct investment.
WTCLA International Trade Manager Michael Smith says the LAEDC is determined to provide business assistance through market research to Zambian businesses wishing to locate or expand operations in Los Angeles County.
Mr. Smith says the LAEDC stands ready to help Zambian companies build capacity to allow them to tap into the U.S market in sectors such as agriculture, manufacturing, construction, and technology skills transfer.
He said this during a trade discussion meeting with Zambia’s Honorary Consul and Chief of Post in California Robert Sichinga Jnr, Embassy of Zambia in Washington D.C First Secretary Trade Charity Zulu and her Tourism counterpart Marsha Chipasha Holdway in Los Angeles.
Mr. Smith further urged the Embassy of Zambia in Washington D.C to avail WTCLA with detailed specifics of projects seeking investment in various sectors in order to position Zambia as a choice of investment destination.
Los Angeles County is the largest County economy in the U.S. with the Gross Domestic Product (GDP) of over 640 billion United States Dollars. And LAEDC is part of a team in California planning to visit Zambia next year to explore areas of investment in the country.
And Mr. Sichinga also called on the LAEDC to identify companies in Los Angeles that will help Zambian companies add value to most of its products to increase on exports.
He said Los Angeles County is leading in sectors similar to those that Zambia has targeted as part of its growth of non-traditional exports and its Job Creation and Industrialization Strategy.
Mr. Sichinga further called for the expertise of the LAEDC to help package Zambia in a way that appeals to the Los Angeles based investor.
And Ms. Zulu said Zambia has launched the seventh national development plan that has outlined key areas of investment in the country.
She said Zambia’s manufacturing sector has considerable investment potential, as the country is relatively well endowed with raw materials and as such value addition, as well as technology transfer, is key.
Ms. Zulu further said Zambia among other interventions is also exploring ways of the use of alternative and renewable energy to meet the country’s energy deficit.
Meanwhile, Mrs. Holdway also urged the (WTCLA) to help identify companies in the film and digital industry to partner with film makers in Zambia to raise the country's tourism profile.