Increased Domestic Investments Needed

Zambia’s vision to become a middle-income nation by 2030 can only be attained through increased domestic and foreign investments in all sectors of the economy, Central Province Minister, Ackimson Banda has said.

Mr Banda noted that despite Zambia’s huge potential in agriculture and other sectors of the economy, the country had been unable to attract and retain enough domestic and foreign direct investments especially in non-mining industries.

He said it was important that investments flowing into Zambia were effectively and efficiently facilitated so that they could be retained in the country in the wake of the global economic crisis.

“Zambia’s vision is to become a middle-income nation by the year 2030. But such a feat can only be attained through increased investments in all sectors of the economy,” he said.

Mr Banda said it was cardinal that such positives were retained in Zambia to help stabilise the economy, especially in the wake of the global economic crisis which was affecting investment inflows.

The minister was speaking in Kabwe when he officiated at a two- day sensitisation workshop being conducted by the Zambia Development Agency (ZDA) and the Business Climate .

Mr Banda said the Government was, however, undertaking a number of programmes aimed at improving the investment climate through the development of pro-business policies and the changing of attitudes of stakeholders involved in investment facilitation.

“It is through increased investments and resulting employment opportunities that the country can mitigate the effects that the global economic crisis has had on Zambia.

“We therefore need to ensure that our vast resources endowed do not just remain potential opportunities but become real and actual investments for the benefit of Zambia and Kabwe in particular,” Mr Banda said.

The minister said it was vital to promote diversification of Central Province’s economic activities from the onset to avoid falling in the trap of over dependence on one economic sector such as copper mining.