CHIBOMBA CALLS FOR REFINEMENT OF POLICIES TO ATTRACT INVESTMENT

By NAMO PHIRI

Policy analyst Kelvin Chibomba has said there is a need for the country to re-strategize in terms of policy if the country is to attract investment.

Mr. Chibomba said the country had a number of very good policies in different sectors including the mines and agriculture but what needed to be done was to ensure that they are re-crafted to be able to attract more foreign investments.

He said what people ought to understand was that the policies that a country put in place had a vital role to play in attracting foreign investments.

“There are many other countries that are looking for investors in the different sectors of their economies. Therefore, there is a need for Zambia to polish up its policies to make itself attractive to investors,” Mr. Chibomba said.

And commenting on the fact that Zambia has received more investment pledges than has been actualized, Mr. Chibomba attributed the slow response to lack of following up by the relevant offices.

He said there was a need for follow ups to be made to ensure that those who make pledges stepped up and implemented what they pledged.

He said this should be done by the relevant offices that were charged with the responsibility of making follow ups adding that it was good to see that the Government was making efforts to attract investors to invest in Zambia.

He said what needed to happen was for others to also come in and do their part and ensure that the pledges were actualized.

He also added that the policy which mandated partnerships between foreign companies and local companies as a requirement for any foreign company to be awarded a contract was a good move as it will not only allow for a certain amount of money to remain within the country, but also allow skills transfer to the local companies.