Zambia’s Minister of Commerce and Trade Christopher Yaluma on Thursday reiterated the government’s commitment to review its regulations and policies in order to create a favorable business environment to bring in additional investment.
Yaluma, who spoke at an investment symposium, said that enabling the creation of a framework which promises attractive and competitive incentives to invest will attract more investment to the country.
Yaluma said that the government had implemented a number of initiatives to promote a conducive business climate, some of which are the implementation of the national industrial policy, national investment promotion strategy and the national trade policy and export strategy.
The chairperson of the Zambia Development Agency (ZDA), Mary Ncube, noted that a well-structured and directed investment environment has the ability to strengthen Zambia’s economic development.
The symposium, whose theme was Business Climate for Reinvestment, was held to facilitate meaningful interactions between the government and private sector, and also allow information and feedback exchanges.
Zambia’s economic growth has been slow with the finance minister, Bwalya Ng’andu, attributing it to tight liquidity and adverse weather conditions which diminished the contributions of the agricultural and energy sectors.