Zambia has recorded an increase in foreign direct investment and posted economic growth during the year 2012, Permanent Secretary in the Ministry of Commerce, Trade and Industry Stephen Mwansa has disclosed.
ZANIS reports that Mr. Mwansa said the increase in these two areas was due to the improvement in the investment climate and business environment.
He was speaking to ZANIS in response to a press query in Lusaka yesterday.
He said government had put in place measures to improve trade with the United States of America (USA) because it recognises the important role buying and selling plays in securing economic development of a country.
Mr. Mwansa cited the introduction of the pre-clearance systems by the Zambia Revenue Authority (ZRA) where goods are cleared before arriving at the port of entry and the reduction in the time it takes to register a business from 30 days to one as some of the issues that have improved the business climate in Zambia.
He said government embarked on these reforms to improve the economy of the country and was happy that it had started bearing fruits.
Mr. Mwansa said the country recorded a total of US$5.4 billion worth of investment pledges in 2011 of which most of them had been fulfilled in 2012.
He added that Zambia’s non-traditional exports (NTE) also experienced an average growth of 20 per cent which could be attributed to government’s efforts to diversify the economy and create favourable investment climate for the NTE sector.
Mr. Mwansa also affirmed government’s commitment in implementing her obligations with the Common Market for Eastern and Southern Africa (COMESA) and with the Southern African Development Community (SADC).
He said Zambia had fully liberalised its tariffs with both COMESA and SADC.
He stated that importers were now only required to go straight to the Ministry of Agriculture and obtain permits, unlike in the past when they had to go to various ministries.
ZANIS
Foolish, you are justifying your being at the min. Time will tell, very soon
Ironically, a few weeks ago Dr. Micheal Gondwe, BoZ Governor, said the exact opposite. Who would you have us believe under the circumstances??? Â
Hahahahaha
RB momentum! Pledges were made in 2011. But forget it from next year as there have been near zero pledges this year.
Mr Mwansa should be quoting official figures from institutions and other bodies that compile these statistics for government to publish to the nation. To quote an increase in a single trade item or ministry that increased compared to last financial year is not meaningful as other factors are at paly. Dr Gondwe BOZ chief just the other day said to the contrary effect of what Mwasnsa is informing the nation. What the nation is being informed need to correspond what is obtaining onthe ground. There is no ‘Donchi Kubeba’ on international trade as the catch word and legacy of PF govt. Reliability with PF govt is hard to note as seen many times without number on various national issues.
How did PF policies lead to increased Exports within a short period of time. What magic powder did PF spray on the exporters for them to perform so miraculously?
Do you think when the govt is corrupt you can have investment ! to the contrally the last govt in power was riddled with corruption stealing all the way, I for one can not intrust my money in the hands of a thief, mmd was just selling zambian companies for gain instead of building new ones
I AM WONDERING IF LT AND ZWD ARE REAL ZAMBIANS OR CITIZENS OF HELL? Y SHOULD THESE DEVIL’S URGENTS ALLOW NEGATIVES DIRECTED ON DE GOVERNMENT? THE POST U COMPLAIN ABOUT DOES NOT PEMIT INSULTS AS U DO.IS THIS FREEDOM OF EXPRESSION? TO HELL WITH U!
Agony! U have created falsehood so much that the devil paints pictures of that same falsehood such that whatever others is false.Unfortunately that’s hh and his dogs.
I do not understand what we have benefited from direct foreign investment, when the majority of our people still live in absolute poverty! I thought privatization, was supposed to lead us to prosperity, create jobs, and sadly it has done the opposite.
At least give us an accurate assessment of how much has been fulfilled of $5.4 billion worth of pledges…Â
Direct foreign investment has always been one way, investment coming into Zambia. Have we ever thought of Zambian companies investing in other countries and reck profits back to Zambia? We can do this, why not? Many companies we have in Zambia have come to folk out profits back to their countries. Why can’t we have a deliberate policy to do direct investment into other countries and get profits from there for the country? We can think out of the box, brainstorm and comeup with how we can raise money from other countries through investments there. To hell with recipient
To hell with recpient mentality 48 years of indigeniusness.Â
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