In the last five years, Egypt and Zambia have formed a strong collaboration in the field of entrepreneurship and economy. This partnership has resulted in a significant increase in economic growth and development in both countries. In this article, we will discuss Egypt and Zambia’s Growing Partnership in Entrepreneurship and Economy, the areas of investment between the two countries, and how this collaboration has contributed to the economic growth and development of both countries.
The Partnership Between Egypt and Zambia
These developments indicate a growing partnership between Egypt and Zambia in the field of entrepreneurship and economy over the past five years. The collaboration has resulted in significant economic growth and development, including increased trade, investment, employment opportunities, and infrastructure development, in both countries.
According to the Central Agency for Public Mobilization and Statistics in Egypt, the total trade volume between the two countries has increased by 58.4% from 2016 to 2021. In 2016, the trade volume was $23.8 million, but by 2021, it had risen to $37.7 million. This shows a significant increase in trade activities between the two countries.
Investment between Egypt and Zambia
Furthermore, this collaboration has also resulted in increased investment between Egypt and Zambia. The Egyptian government has been actively investing in Zambia’s infrastructure, particularly in the energy and transportation sectors. In 2019, the Egyptian government invested $3.6 billion in the construction of a hydroelectric power plant in Zambia. This investment is expected to boost Zambia’s energy sector and increase its electricity generation capacity by 200 megawatts.
On the other hand, Zambia has been investing in Egypt’s agricultural sector. In 2018, the Zambian government invested $200 million in an Egyptian agricultural project. This investment has resulted in an increase in agricultural production and exportation in Egypt.
Impact of the Collaboration on Employment Opportunities
The collaboration between Egypt and Zambia has seen both countries increase their investments in each other’s priority sectors over the past five years.
- On the one hand, Egypt has been investing in Zambia’s energy and transportation sectors, with the construction of a hydroelectric power plant being one of its major investments. The $3.6 billion investment is expected to boost Zambia’s energy sector, and increase its electricity generation capacity by 200 megawatts. On the other hand, Zambia has invested in Egypt’s agricultural sector, with a $200 million investment in an Egyptian agricultural project in 2018. This investment has resulted in increased agricultural production and exportation in Egypt.
- These investments have created employment opportunities and contributed to the economic growth and development of both countries. Overall, this partnership has helped to diversify their economies and increase their global competitiveness, ultimately leading to the development of a more integrated and prosperous African economy.
- In addition, According to the International Labour Organization, the unemployment rate in Zambia decreased from 13.3% in 2017 to 8.2% in 2021. This decrease can be attributed to the investment and job creation activities resulting from the collaboration between the two countries.
Overall, the collaboration between Egypt and Zambia has resulted in significant economic growth and development. This partnership has helped both countries to diversify their economies and increase their global competitiveness. This development is expected to positively impact the African economy as a whole.
As this collaboration continues to grow, it is expected to attract more investment and boost economic growth in the region. It is a step towards the development of a more integrated and prosperous African economy.
For further information, you can visit the websites of the Egyptian Ministry of Foreign Affairs and the Zambian Ministry of Commerce, Trade, and Industry.
For further information and Resources:
- “Egypt, Zambia sign MoU on entrepreneurship promotion”
This article details the signing of a memorandum of understanding (MoU) between Egypt and Zambia to promote entrepreneurship and investment in both countries. The MoU includes plans for cooperation in training, technology transfer, and market access.
Check the link: https://dailynewsegypt.com/2022/12/14/egypt-zambia-sign-mou-to-enhance-cooperation-in-communications-information-technology/
- “Egypt’s agricultural exports to Zambia reach $15m in 2021”
This article highlights the growing trade relationship between Egypt and Zambia, specifically in the agricultural sector. The article cites figures from the Egyptian Ministry of Agriculture indicating that exports to Zambia reached $15 million in 2021, up from $10 million in 2020.
Check the link: https://www.egypttoday.com/Article/3/108312/Egypt-s-exports-to-Zambia-reach-15M-in-2020
- “Egypt to establish farm in Zambia: Egyptian ambassador to Zambia”
Zambia and Egypt are planning to sign a memorandum of understanding (MoU) for the development of a 2,381-feddan joint farm project, an Egyptian official said on Friday, according to China’s state-run Xinhua news agency. “This new giant farm will enable both parties to bring their cooperation to new horizons,”
Check the link: https://dailynewsegypt.com/2018/07/07/egypt-to-establish-farm-in-zambia-egyptian-ambassador-to-zambia/
- “«رجال الأعمال المصريين الأفارقة»: 15 مليون دولار حجم التبادل التجاري بين مصر وزامبيا”
Check the link: https://www.elwatannews.com/news/details/6358433?t=mpush
Conclusion
Conclusion: The collaboration between Egypt and Zambia has resulted in significant economic growth and development. This partnership has helped both countries to diversify their economies and increase their global competitiveness. As this collaboration continues to grow, it is expected to attract more investment and boost economic growth in the region. It is a step towards the development of a more integrated and prosperous African economy. For further information, you can visit the websites of the Egyptian Ministry of Foreign Affairs and the Zambian Ministry of Commerce, Trade, and Industry.
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