ZACCI CALLS FOR MORE INVESTMENTS IN ZAMBIA

By Lumbiwe Mwanza

IT is evident that the Government is pursuing an enabling environment for private sector development and attraction of investments considering the various Memorandum of Understanding (MoUs) and partnerships being promoted, the Zambia Chamber of Commerce and Industry (ZACCI) has said.

Recently the Israel- Zambia Business Forum organised by the Zambia Development Agency and the Israel Ministry of Foreign Affairs in Jerusalem, generated deals worth over US$800 million. Key sectors that generated the deals included among others the agriculture, energy, technology and innovation, as well as financial services.

ZACCI President Chabuka Kawesha told The Scoop that a more conducive business environment and predictable economic policies had continued to instil confidence in the private sector for growth.

Dr. Kawesha said that Zambia’s central location with readily available market for products and services made it attract investment in various sectors of the economy such as agro-processing, agriculture and value addition, mining, manufacturing, and tourism.

“The Government has continued to make viable efforts in promoting investments in the country looking at the number of MOUs that have been signed and the promotion of partnerships. This has had a positive impact on private sector development and contributing to the growth of the economy. However, what is needed is ensuring that as a country, we remain on course.

“Maintaining the course and tone on policy direction would mean that as a nation, we will be able to see the long term or short term results emanating from the various economic interventions put in place,” Dr. Kawesha explained.

He said that a stable political environment was a recipe for flourishing businesses whose good return on investment and security were guaranteed.

He said that sound investment policies not just in Zambia, but around the world, were vital to global prosperity and stability, opening new markets as well as generating more vigorous and sustained economic growth.