Zambia integrate into global economy


PRESIDENT Michael Sata has said Government will ensure that Zambia is fully integrated into the global economy to enhance job and wealth creation across all disciplines.

Mr Sata said Government had also accelerated diversification of the economy and moved away from supplying unprocessed natural resources.

He said this in Livingstone yesterday during the opening of the Zambia International Investment Forum.

The forum, whose theme is ‘Value Addition for Wealth and Job Creation: Win–Win for All’, is designed to showcase Zambia’s investment opportunities as well as to promote greater dialogue between the public and private sectors.

Local and foreign investors are attending the two-day forum which is also aimed at offering networking opportunities between the private sector and international investors.

The President said the Government was implementing the national strategy for industrialisation targeting four growth sectors of the economy namely, agriculture, tourism, manufacturing and construction.

The Government would also continue to invest in infrastructure such as roads, railway, airports, border facilities, power stations as well as information and communication technology to support trade and investment.

Mr Sata assured the delegates to the forum that the Zambian economy was open for business, trade and investment.

“My Government is focused on improving the business environment by removing constraints which impact negatively on business growth such as high compliance costs, low skills levels, access to markets, lack of finance, appropriate technology and quality business infrastructure in rural areas,” he said in a speech read for him by Vice-President Guy Scott.

He was happy that the investment forum was being held after the recent successful issuance of the US$750 million Eurobond.

“This reflects the confidence that the international investor community has in our country and confirms the status of our country as a preferred destination,” he said.

Commerce, Trade and Industry Minister Bob Sichinga said he looked forward to ensuring that Zambia grew to levels of best performing economies around the world.

The forum was sponsored by First Quantum Minerals, Konkola Copper Mines, Zambia China Economic and Trade Corporation Zone, Zambeef, and Airtel Zambia.

Other sponsors are Sun International Zambia, Standard Chartered Bank Zambia, Trade Kings, Pepsi, VALE, Amatheon Agri, Zanaco and Zamanco Mineral Limited.

Africa Development Bank (AfDB) president Donald Kaberuka said the challenge for Africa’s policy makers was to ensure that growth led to economic transformation.

In a speech read for him by AfDB Zambia resident representative Freddie Kwesiga, Dr Kaberuka said a survey of international experiences showed that there were no cultural or geographical obstacles to economic transformation.

Cabinet ministers attending the forum included Tourism and Arts Minister Sylvia Masebo and Mines, Energy and Water Development Minister Yamfwa Mukanga.

SOURCE: Times of Zambia

About Website Editor

'Please contact us as we are always looking for new stories, bright columns with innovative and sensational inspirational ideas. You can also contact us for press releases. Showcase your talents with us!' Contact us on
Category : Business, LATEST and tagged , , .
« »


One response to “Zambia integrate into global economy”

  1. Aka Sum says:


    The Zambian government is panicking over the mealie meal crisis and has forced the Food Reserve Agency to sell maize at K60, 000 instead of K65, 000 or more per 50 kg bag in a bid to try and control sky-rocketting prices.

    The cost of a bag of 25 kg mealie meal jumped K45, 000 to between K75, 000 and K80, 000 on the Copperbelt after a shortage in the commodity which is a staple food for Zambia.

    In an attempt to bring the situation under control, the government says its decision to allow the Food Reserve Agency to sell the maize it bought at K65, 000 per 50kg to millers at K60, 000 is aimed at ensuring Zambians have access to reasonably priced mealie meal.

    Qfm reports that Agriculture minister Emmanuel Chenda says government remains committed to ensuring that the country’s staple food is made available to all the domestic consumers in the country for enhanced food security.

    Chenda said the government will therefore ensure that it makes realistic rather than economic decisions at the expense of the ordinary Zambians.

    FRA has announced that it will in the first week of December start selling maize to millers at K60, 000 per 50kg bag.

    This comes in the wake of mealie meal shortages which hit some parts of the country recently with Kitwe and Chingola being the worst hit.


Leave a Reply