MEMBER states of the Lobito Corridor have today launched the concessioning of the Lobito port and the rail line that will be operated under a Special Purpose Vehicle (SPV).
The three member states include Angola, the Democratic Republic of Congo (DRC), and Zambia.
And President Hakainde Hichilema says the implementation of the port marks a significant step in enhancing trade and investment opportunities within the region.
He said the Lobito Corridor is not only the shortest route to the sea but also serves as a vital logistics facilitator for imports and exports.
“At the invitation of His Excellency President Manuel Joao Manuel Goncalves Lourenço, the President of the Republic of Angola, and in the presence of President Félix Antoine Tshisekedi Tshilombo of the Democratic Republic of Congo, we have successfully implemented the long-standing Memorandums of Understanding (MoUs) between our countries.
This action is a result of our visit to Angola in January this year, and marks a significant step in enhancing trade and investment opportunities within the region,” he said.
President Hichilema said the country is eagerly anticipating the positive impacts that will arise from the development, including increased private sector investments, job creation, and economic growth in the Democratic Republic of Congo, Zambia, and Angola.
He said the improved movement of people, goods, and services, along with reduced operating costs and travel times for transporters, will contribute significantly to the outcomes.
“Furthermore, the utilization of the rail system for the transportation of imports and exports through our Jimbe border in the North Western Province will alleviate the pressure on our roads, particularly the Solwezi-Chingola road, thereby minimizing damage and associated maintenance costs,” he said.
The Head of State said it is now Zambia’s responsibility to prioritize the urgent upgrade of infrastructure in the North Western Province and ensuring seamless connectivity to the Angolan and DRC routes, which will facilitate efficient movement of people and goods.
“We stressed the need for our countries to prioritize value addition our raw materials so we can export finished products for the benefit of our citizens in our countries,” he said.
(Mwebantu, Tuesday, 4th July, 2023)