Banda said in Lusaka yesterday that Zambia offered immense opportunities in the development of energy infrastructure to enable the country turn the wheels of industrial development.
He was speaking at Government House when he received credentials of Rasoul Momeni, ambassador designate of the Islamic Republic of Iran to Zambia.
Apart from the energy sector, Banda said Zambia also had a lot of investment potentials in the transport and communication industries.
He said Zambia was aware of Iran’s expertise and capacity in various areas of development and welcomed cooperation at various levels, which would later lead to consolidation of friendly relations between the two countries.
Banda said his government had embarked on a national development plan to transform Zambia into a middle-income economy by the year 2030.
He said the government had since put in place legislation and incentives to attract foreign direct investment as well as the establishment of partnerships with the friendly business environment in Zambia.
He appealed to the Iranian ambassador to identify opportunities in the areas outlined and any other which may be of interest to potential Iranian investors.
Banda said Zambia considered Iran as a country endowed with abundant oil and gas resources as well as mineral resources, which were of benefit to Iranian people and the rest of the world people.
He said the natural resources had enabled Iran to create wealth for itself and to assist other needy nations in the Middle East and elsewhere in the world.
Banda said Zambia welcomed the positive role that Iran had been playing towards the resolution of conflicts and humanitarian assistance to the affected people.
Momeni, for his part, said Iran enjoyed high standards of expertise and technical know-how in production, industries and scientific research due to its trained and skilled manpower.
Source: FARS News Agency