IT is an open secret that our country’s favourable investment climate remains an awesome-sight across the world.
This is in addition to the prevailing political stability as well as Government’s standpoint to provide high levels of security, a move that continues to attract investors from across the globe.
On its part, the Government is demonstrating its will to provide a complimentary atmosphere for investors to explore key economic sectors such as agriculture and mining as in the case of a number of companies carrying out exploration of oil and gas in various parts of the country.
For instance, just a few weeks ago, a delegation of investors led by Craig Sillars, a mining and infrastructure specialist from the Department for International Trade, visited Zambia to appreciate the country’s investment opportunities.
Mr Sillars observed that our country’s mining sector was poised for growth driven by prudent measures aimed at impacting positively in expanding our economy and job creation.
This demonstrates how the world appreciates our country’s investment environment, and Government’s keenness to warrant a win-win situation is provided to investors.
In a bid to unlock development, Government took an initiative to introduce the Multi Facility Economic Zones (MFEZs) in 2003 to stimulate industrial and economic activities in the manufacturing sector through value-addition for the local and export markets.
The aim of the zones was to create a platform for the country to significantly achieve economic development by attracting significant domestic and foreign direct investments (FDI) through a strengthened policy and legislative environment.
Going by its intended objectives, it is impressive that MFEZ initiative emphasised the political will, private sector dynamism and civil service efficiency as key forces that enable the economy to attain accelerated economic development.
The implementation of MFEZs especially in our developing nation is designed to make Zambia competitive through increased activity in the trade and manufacturing sectors, which have numerous positive spill-over effects in other sectors such as utilities, transport, agriculture and services.
We, therefore, endorse President Edgar Lungu’s observation about the slow pace at which these economic zones are moving mostly in intended areas where they have not been established.
In his keynote address at the inaugural Luapula Expo and Investment Conference whose theme is ‘Linking Luapula to Investors’ in Mansa yesterday, the Head of State expressed worry at the slow pace at which economic zones are moving.
We support the President’s passion to see to it that investment is amplified to stimulate economic development owing to his directive at the Expo to relevant authorities to quicken the process of ensuring economic zones are established to boost investment inflows in the country.
President Lungu challenged Luapula provincial minister Nickson Chilangwa, Commerce, Trade and Industry Minister Margret Mwanakatwe to expedite the process of the full establishment of Chembe MFEZ to attract more investments.
We give support to the Head of State’s directive. We say so because just like the President is predicting massive investment inflows in Luapula province, we anticipate that returns of economic zones would also spur creation of viable platforms for the private sector to thrive.
By establishing more of the MFEZ, it’s no doubt that there would be more vibrant value addition and such facilities are better based to encourage economic development thereby improving the living standards of all citizens.
The President also observed that major sectors of the economy such as mining have started re-emerging and positioning for growing hence the need to consolidate such as economic gains.
Mr Lungu said that “There is need for real life gain from the economic resurgence as proclaimed in the Seventh National Development Plan as our the Patriotic Front (PF) manifesto,”.
To appreciate the Luapula Expo’s exhibitions, the President later toured many of the stands where he interacted with exhibitors among them Trade Kings, Kaizen International Zambia and the Small and Medium Scale Enterprises (SME) where he exchanged notes with them.
Thumbs-up to the Luapula minister and his provincial administration for the hard work to put up such a marvel Expo which has no doubt opened the province to would be investors.
We, however, challenge other provincial ministers to emulate the Luapula provincial administration to take a leaf to market their areas in the areas of agriculture, mining and energy with accelerated commitment on infrastructure development.