By Amb. Emmanuel Mwamba
The Vietnamese proposed investment is clearly bogus.
A casual analysis reveals that Vietnam itself does not have that amount of money for huge investment.
When you read details about the Vietnamese economy regarding their Foreign Direct Investment (FDI) it is below US $ 15 billion per year.
Where will this investor find US $ 72 billion to invest in another country. Secondly, how on earth could a country like ours with a GDP of US $ 26 billion attract and later on absorb a US $ 72 billion in investment?
The investor says he wants six (6) million hectares of land placed on title. He says he will secure a $72 billion agro loan for Luapula, Northern, and Muchinga provinces.
Zambia Development Agency is promoting the bogus venture.
Do we really have right competences at ZDA? I really can’t blame the investor’s but ZDA Director General Albert Halwampa, who has habit of announcing outlandish and unrealistic investment pledges.
This is a fallacy of the highest proportion.
See data on Vietnam’s FDI below….
This does not make sense at all. USD72billion over 20 years, USD3.6billion per year on average or USD300million per month sustained over 20 years!! Even the US or China would not pump that much into an economy our size. It would suffer from indigestion.
Ba ZDA, do you know what you are talking about?