The Economic Association of Zambia (EAZ) has praised government for its continued efforts in attracting more Foreign Direct Investment (FDI) in the country.
Association President Mwilola Imakando says government should be commended for the role that it has played in ensuring that it instills investor confidence in the economic development of the nation.
Speaking in an interview with ZANIS in Lusaka , Dr. Imakando said increased investment is important in any country’s developmental agenda as it helps in uplifting the living standards of the people.
He explained that when they are increased investment opportunities in the country, new technologies are also invented that can create employment chances consequently reducing poverty levels among the citizens.
He noted that this is because improved FDI also acts as a source towards addressing effects of poverty and unemployment.
Dr. Imakando has also urged people in the country to supplement government’s efforts in attracting more investors in the country.
He said that citizens have a duty of ensuring that investors continue investing in the country through avoiding bad language and criminal activities that can scare away potential investors.
He added that negative attitude towards investors in the country has the possibility to also scare potential investors that can boost the country’s economic growth.
Dr. Imakando challenged Zambians to also be productive and be part of the country’s economic transformation.
He has also reiterated government’s predication that Zambia can become the second largest investment destination in the Southern African Developing Community (SADC).
Government has announced that the country’s FDI for this year is likely to exceed US$ 3 billion due to increased investment existing in the Tourism, Manufacturing and Mining sectors among others.
ZANIS
Great news. We need more investment in the nation.
I hope Mr 90-day economic miracle man is getting the message from the learned DR especially for his contempt towards the investment from the world’s second largest economy.
Dr Dr Dr..can you please tell us what the gvt has done to attract investors.Allowing them to externalise all profits and leave zambians poorer than ever? As a Zambian Dr we expect you to advise gvt to empower zambians so that they become investors in companies like zamtel. I have been to Angola an upcoming Giant for your own infor. All banks are owned by Angolans and gvt you will not find barclays bank or standard chartered bank never, telecom companies unitel and movicell belong to angolans and gvt, sonangol the bigest oil company in the country runs all filling stations,it is a gvt property, no feeling station is run by bp or caltex or other nonsence..empowerment is what we need and not this rubbish of saying investors will make this country better.Wake up zambians
Any country that has benefited from investors do so by empowering citizen first,look at china, a country which at one time was poorer than zambia, is now a giant economically, korea, japan etc. these countries developed because they depended less on investors and empowered citizens. with sound economies companies are now going there to invest. this is positive investment. ours is negative, where we heavily depend on investors and think that they will make us rich…as usaul these are MMD policies. Policies of 1991. as the saying goes..KK no change MMD no change…….Kuya bebele..fooooooooooooooooools.
To add to # 3 and 4; why “praise” the government for the work that is so poorly done, for the good pay they get? If someone is doing their job, and they are paid for it, why praise them. These are some of the PhD holders that have led to peaople speculating that every PhD is being bought and or given freely somewhere. Malabisi yekayeka!!
INFESTMENT, how does it develop the economy? I am still chasing the Chinese no more infestment from next year.
@ #3-4 Pa zed pesu
Who has stopped you from investing in Zambia? Who has stopped you from owning a filling station, a telecoms company or a bank?
It is this lazy thinking that is keeping certain people from succeeding. We always try to place the blame on govt to justify our unwillingness to be innovative. Tell me how some Zambians have made it? Tell me how some Zambians have been innovative and have actually entered in joint ventures with the same foreign investors you despise so much?
Zambia is an open market economy. No one will stop you from owning your own dairy, bank, filling station or tv station provided you meet the requirements.
Be innovative for once.
UP TO TODAY ZAMBIANS STILL THINK FOREIGNERS ARE GOING TO DEVELOP ZAMBIA. WHY SHOULD A FOREIGNER DEVELOP ZAMBIA WHEN HE/SHE HAS WHERE SHE COMES FROM? IN FACT THEY COME HERE (ZAMBIA) TO UNDEVELOP ZAMBIA (CASH COW) IN ORDER TO DEVELOP THEIR COUNTRIES.
#7- you are asking me who has stopped me fom investing in Zambia, ask your uncle RB and you father in law Kafupi Kabwalala KB boy. They know the answer better.
FDI should be a two way street in zambia as elsewhere.Many countries have investment abroad and some foreign investment at home.Other african countries have started it too.Sonangol is in iraq,ecobank,kenol/kobil,mr bigg,nakumatt,lap green,orascom,mtn and uchumi are all companies from africa in other african countries.Zambia need to grow its own companies strong enough at home and that dare to venture on foreign soil.This fdi will only benefit zambia if it is joint ventures to transfer knowhow.
@ #9 Pa zed pesu
Very mature sir/madame. Very mature. =d>=d>=d>
# 3. All these new good ideas are happening because of the Good RB’s Governance. There used be Kingstones, NIEC stores etc. All these used to be run by Zambians but what happened to them? The only things that remained in trays were tissues. Zambians failed to run big businesses and that was the reason why Zambianisation failed. You do not need a big place to run business, we are in e-commerce era now. Those Zambians who can afford to run business they are welcome. So do not attack the Government without backup history of were we are coming from.
No.12, our histoy is full of nosense because of your party MMD. Kaunda, tried to show how things are done but instead of you analysing the situation and getting examples from countries which have excelled, your Kafupi conviced Zambians than privatizing everything is the way to development. has your country developed since then or you are still suffering? poor you!!. Get back to books and read chinese history, they are the best example.Your gvt just relate to china and yet they dont learn anything from their past experience….typical mentality of an African!!