President Rupiah Banda says African countries need to work together in addressing the economic challenges brought about by the Global Economic recession.
In an interview yesterday, Mr. Banda said the World Economic Forum offers an important platform for African countries to find durable solutions to the economic crisis facing the continent and the world at large.
Mr. Banda, who is among Heads of State and Government attending the three-day meeting at Cape Town’s International Convention Centre, said that history has shown that no single country working alone can succeed in tackling challenges such as the global economic meltdown.
He said it is for this reason that Zambia attaches great importance to the meeting to hear how other countries in Africa and beyond are going about in addressing the effects of the global economic crisis.
Mr Banda said Zambia is also using the meeting to create contacts with potential investors to come and help in diversifying the country’s economy from its dependence on mining to agriculture, tourism, manufacturing and other sectors.
The President, who participated in an interactive session on Investing in Africa this morning, described the meetings as extremely useful to Zambia’s on-going efforts to achieve sustainable economic development.[quote]
Mr. Banda said he and his team of ministers and other experts had successful exchange of views with some of the key global economic players.
And President has spoken highly of the warm relations existing between Zambia and Kenya, saying the two countries have continued to work together in many areas of social and economic development.
Mr Banda said this after holding one-on-one closed door talks with Kenyan Prime Minister, Raila Odinga, on the sidelines of the on-going World Economic Forum on Africa in Cape Town, South Africa today.
The President said Kenya is important to Zambia for many reasons, chief among them, the fact that its manufacturing base is much wider than Zambia’s.
By working closely together, the two countries, therefore, can achieve a lot in developing their economies.
Meanwhile, Commerce Minister, Felix Mutati, says Zambia’s efforts to attract foreign investment are bearing fruit..
Mr. Mutati says this can be seen in investments in various sectors worth about US$400 million which have come into the country in the recent past.
Mr. Mutati, who is among the minister accompanying the President at the World Economic Forum on Africa in Cape Town, said the said investment has gone into the palm oil project in Luapula Province, the Mpongwe bio-diesel project on the Copperbelt among others.
He said government’s priority in attracting more investors is to develop infrastructure, such as roads, hotels, communication facilities and other services in order to reduce the cost of doing business in the country.
The Zambia government has also put together an attractive package of incentives across all sectors of the economy in order to attract more investment to the country.
ZANIS
cant you just stop covering that comedy.give us news on how people are dying unattended to.
take care of the log in your own eye first
I dont like to hear or read this mutati guy talk. He gets on my nerves, almost 8yrs now he talks about investment when there is no meaningfull agreement. Am still waiting for the $2billion sugar plantation the indians promised. Even the late levy told you to implement and do less talk but upto now the dagote cement plant is not open. We spend time talking about diversifying everytime. This regime is all about useless promises concentrate on the minerals first before you talk about anything else create finished products from the copper beford you run to something else.
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Sung hi xie
I agree with you. Mutati has been globe trotting even more than RB for years now but nothing to show for. He has been to Brussels (EU capital) and many other places. Now the President seems to have taken over his role.There is a leadership crisis in Zambia because RB has chosen inept men and women to help him. The President cannot be everywhere at the same time. Strikes at hospitals, not a single word from minister of health. Not even a statement to parliament! Shortage of oil, not a single word from energy minister! All we hear are PS’s and Shikapwasha in defensive gear! Shikapwasha has now become Minister of Rebuttal and spin. Where is the offensive?
Brilliant mutati for president if MMD has to survive