PRESIDENT Sata said that Government is this year targeting a seven percent growth in the economy, which he is confident shall be attained.
The President also wants the country to maintain a single digit year-end inflation.
President Sata has also said his economic managers will ensure Government borrowing is managed and the exchange rate remains stable while investment must increase.
He was speaking here yesterday when he addressed business executives during the Zambia Business Forum in the South-South media boardroom.
Mr Sata said Government will continue passing laws that are business-friendly in order to accelerate economic growth.
He promised incentives for investors opting for rural and remote areas, as well as those that partner with local entrepreneurs.
President Sata wants to see the cost of doing business in Zambia reduced.
Infrastructure such as roads, railway, airports, border facilities and power stations to support trade and investment are a priority area for Government to invest in.
The World Bank ranks Zambia among the top 10 fastest growing global economies in the world in its 2011-2015 projection.
According to the 2011 world business survey, Zambia is also one of the top investment leaders , having attracted massive investments in mining and tourism sectors and most recently the US$750 million Eurobond.
President Sata said Government will remain committed to ensuring Zambia remains one of the most attractive places in the world to invest and do business in.
“Zambia’s central location offers a gateway to Southern African Development Community and the Common Market for Eastern and Southern Africa trade blocs, making it ideal to export to the regional market. Zambia also has easy access to the sea ports of Durban in South Africa, Dar es Salaam in Tanzania and Walvis bay in Namibia,” Mr Sata said.
The President also acknowledged the warm and cordial bilateral and trade relations Zambia has with the United States.
He renewed his invitation to international visitors to attend the United Nations World Tourism Organisation (UNWTO) General Assembly to be co-hosted by Zambia and Zimbabwe next year.
“It is my pleasure, therefore, to invite business executives and captains of industries here to take advantage of the general assembly and invest in tourism in Zambia,” Mr Sata said.
Meanwhile, Mr Sata has invited American investors to invest in Zambia as “we are ready to enter into agreements with American investors. We have a lot of opportunities in the mining and other sectors of the economy which need to be utilised”.
The President said Zambia is a very peaceful country and that the government is committed to reducing interest rates and the cost of doing business in Zambia.
Mr Sata said interest rates will continue to go down for the country to record investment in key sectors such as transport and communication.
The President also took time to answer questions from investors, whom he assured that Government will facilitate visa requirements for them.
“It will be easy for you (investors) to access visas upon arrival in Zambia. My Minister of Home Affairs [Edgar Lungu] is working on something to address that,” Mr Sata said.
And speaking earlier, American investor Mike Lorenzo said Zambia is a stable country with a lot of potential in business.
He said the country has recorded economic growth in the past few years.
[Zambia Daily Mail]
Continue with the good work sir.Zambia is behind you.
Well done Mr President. Go Zambia Go.
Oh oh ..now Matero University and Kulima Tower School of economics will have to introduce real economics into they syllabus. I hope Kaponyas don’t riot on this one.
The Inflation numbers you mocked, the GDP numbers you mocked are now your tools to attack investors ..nice one guys. And welcome to the real world…at last.
whats your point?
Ask him?
I think to be fair…we should not always expect that what the opposition is always attacking the party running government is doing or achieves indeed is what they mean. PF could have attacked the ‘numbers’ which were being flouted by Mutati, Musonkotwane & MMD in general but they knew MMD had done something commendable. They were just playing the game…politics. How would it have looked if PF came out full blast praising MMD for the bumper maize harvest or single digit inflation…the masses would have questioned why then would the elect PF if PF itself is praising MMD.
Shi Iris (Kaingu) must clamouring to get hold of this (President’s speech) speech to tear it aswell
Devils’ Advocate
Good afternoon
I’m inspired by the leadership efficiency displayed by our president in New York. He has done very well by clearly stating the targets that his government is committed to achieve.
Of course there are also other factors that affect our economic growth, like our cross-functional cooperation with China, the world’s most important growth market, but as long as the country remains politically stable and this government does not back down from it’s targets, I’m sure that Zambia will see better years ahead.
At long last, a “made in Zambia” president and hopefully, made to last. The exposure alone must have been worth the effort. Were he an educated technocrat, he probably would have been a formidable force for good. Now he tends to be more of a formidable force for evil – a tribalist par excellence who has masterminded Robert Mugabe’s political philosophy and still remains a wild card to play come 2016.
I haven’t seen anything tangible from our educated folks yet. All we hear about them is plunder, Zambia is what it is because of the UNZA graduates, these characters have not offered anything to Zambia. Maybe the curricular at UNZA must be revised to make its graduates more practical and effective.
Mr Zambia…
The first ever Zambia UNZA graduate Levi made what Zambia is today… being destroyed by a grade 7 from Mpika
The first ever Zambian UNZA graduate President nLevi made what Zambia is today… being destroyed by a grade 7 from Mpika
Thats the voice of the true president
Some of you are blogging from Chainama. Take your meds….
He has not started yet.. Watch the space!! Zambia will never be the same again under this man’s leadership!
The noise makers, distractors, the less focused, the wishiful thinkers will one day, just one day realize that Sata is the right man for Zambian Republican Presidence. It takes some mind time to re-align and start thing properly. They need practical evidence, like the doubting Thomaa in the Bible, to prove to ththem that HE the Zambia’s Republican President is the right man at the right time and will do the right things for Zambia. He has the fitting feet of the Presidential feet than other contenders. Mature, good judgement, experienced, and compentent indeed. Waitt for results up to 2016.
mere cheap talk…deeds not words
Please fall on Zambians and not these multinationals. Reach-out to your citizens at home and abroad for real and sustainable national development. We tip these policy makers to get aggressive at embracing Zambians in the Diaspora for a game change. Most of them are either skilled, have money or more often enjoy useful investment networks. They share some work culture, values, thinking and even easy trust than those who have been home through-out. A combination of the Zambians at home with those in the Diaspora could deliver exponential real development. No country could develop on multinationals only when citizens are not fully involved in the game plan.
mostly cowards who could not make home, let them be were ever they are! them
Good on us Mr President.
THIS MAN, SATA IS A HARD WORKER. THIS IS THE MAN ZAMBIA HAS BEEN WAITING FOR WHOLE THIS TIME.
Well done Mr. President. We are behind you and ready to see Zambia once again regain its lost glory. Go Zambia Go!
Good move Mr.President
am happy with the way he has presented the ideas to them especially the part to deal with rural investment and partnership with the local enterprenures
Yes good move sir, but you must also empower Zambians. Let Zambians Invest in some industries as well. Remember development should be spear headed by both FDI and Local Investment.
So what the bloody hell was this? What sort of investors was he talking to? Are they the type who invest in treasury bills or bonds? The ones we call casino investors! Or are they in the Agriculture, Mining, Manufacturing sectors etc? This was a cheap sales trip lacking both specificity and purpose!
your bitterness, hatred and shallow mindedness will kill you. Let me guess tonga or lozi blood, probably both
Ba shi chulufya this isthe spirit we need pa zed…viva hh oor! sorry maningi viva PF
What a nice pase Mr. President, this is the spirit. Zambia is too rich to be poor. Well done kep on going
Yesterday I and my friend went to New York to meet HE President Sata. He never showed up. His ministers Given Lubinda, Sylvia Masebo and Bob Sichinga gave very powerful speeches of opportunities in Zambia. Just happy to be among so many Zambians.
‘He was speaking here yesterday’
Where?
I cannot see Bill Gates, Warren Buffett etc.
All I can see is Winston like investors.
lol
Appreciate were its due, PF doing well so far!!
If you keep calling yout fellow human beings who are normal, well respected in community, real innocent people as fools, you must be crazier, 10 times more a foolish person than them. Thats could be the cause of your outbursts.
Well done Mr President. Sell Zambia. Remember Bill Clinton’s mantra, ‘It is the economy, stupid (sic)’. And please bloggers, and I speak to those who perhaps may not have read much, ‘sic’ is used to indicate the literal spelling or word used in the a quotation. So it has nothing to do with our President but a refrain of the plaque on Bill Clinton’s desk in the Oval office. Mushota, please help with your Scottish acquired acsent!
Easy access to the sea? Stop telling lies because they will prove you wrong if they ever set foot in Zambia. Zambian roads and rail lines suck!
these people don’t look like Americans. they are Chinese and Indian delegates to the UN general assembly which investor can listen to a lumpen? you can see he was just cracking jokes. they where busy laughing at him. amazed by a lumen president
Wrong timing on the part of comrade Sata, the American dream is over, hence the Chinese are extending their influence across the globe. Comrade Sata look around New York or visit any US city along the megalopolis from the Michigan to Philadephia. You can also go to the West coast and inspect business activities stretching from Los Angels to the Mexican boarder. All the those cities along each megalopolis have not been spared from the on-going recession and many businesses have closed their operations. It followed that after closing their doors back in the US, they reappeared in China. Those bankrupt firms are exporting jobs to places like Manila. Many Americans are now searching for greener pastures here in South Africa, hoping for better living conditions. You are fishing in wrong waters.
I think you contradict yourself. If the US economy is faltering and the US businessmen are moving their investments off-shore to China and South America as you mention then is this not the time court them to ensure that they have Zambia in mind as possible destination too?
All that is left in the US is psychological manipulation so that people from the southern countries especially those in Africa except South Africa can look at the west (US) as a hegemonic society which supposedy has enormous resources to invest in the so called Southern countries (emerging economies). Please, shake off this common myth which clouds your judgements in Zambia. The Northern countries, US being one of them are attempting all means of keeping you from realising your true potential by portraying China as a new colonial master in Africa yet their companies are accumulating huge profits in China and, the Chinese are currently the major buyers of the US debt other than the Saudis (Arabs). This comrade, then goes to bankrupt fellows to sing a halleluiah song in the name of investme
You want investment? Stop harassing the opposition. Stop firing judges. Stop nepotism and its inherent corruption. Stop theft, which is a major problem in the Zambia culture. It is like every employee is looking for an opportunity to steal from his company. These are real problems that need addressing if you want to attract plum investment. You should also start behaving like a president.
foolish, does it have to take a president for people to stop stealing, all of us should be willing to do something about our country, no man no matter how great can develop a nation single handedly. Your throat is deep indeed! which judge was fired? In case you don’t know there is a difference between suspension and dismissal. stop expecting everyone to bahave like you people are different. If we all thought like you then chainama would be full.
My friend, presidents inspire. Ethos trickle down. Chainama is not full because all you mad people are occupying political positions instead of getting mental treatment. And that is what is wrong with this country.
Nice to shed off Mugabe for a change and talk to businessmen and women who stimulate prospects of job creation for our youth. I only hope when we get to listen a video clip this meeting it will be as promising as that’s reported. Experience has show that its better to wait for actual sound bites before showering President Sata with praises…
We have been Sata posing for fotoes with so called investors from India uk etc but its same zero results
Since when were the zero results recorded? you n’gombe ilede in the diaspora?
INDEED I AGREE ZAMBIA IS A GOOD DESTINATION BUT CAUTION TO GOVERNMENT TO STOP ISSUING UNNECESSARY STATEMENTS WHICH SCARE INVESTORS.
THE FIRST YEAR OF PF IN OFFICE SAW FOUR MINISTERS AND THE PRESIDENT ISSUE STATEMENTS THAT THREATEN PEACE. THE OPPOSITION EQUALLY DID THE SAME. A UNITED COUNTRY IS WHAT WE NEED TO ATTRACT FOREIGN INVESTMENT.
THOSE WHO OPPOSE UNITY AND DEVELOPMENT LIKE OUR FRIENDS IN MONGU, LETS LEAVE THEM OUT. PLEASE STOP CALLING THEM “LOZIS”, INSTEAD YOU SHOULD CALL THEM; “THOSE IN MONGU AND SENANGA”. SOME US IN LUSAKA WANT DEVELOPMENT. ENI SHA.
Fake figures presented by a fake “govt of zambia” with a president with fake grade 7 education and only representing the bemba nation wrongly packaged as “zambia”
Well I hope the effort pays. Mr President, try also to sort out the contradictions in your head. How are you going to handle the running of RDA with the rest of your presidential duties? I can see more responsibilities being added to your job description but with reducing key performance Indicators. Pronouncements such as taking of the running of some agency do indeed inspire confidence. I don’t trust my minsters I will do this myself! Sounds more like you are not happy to be president but would rather be a minister….
Well I shall give you the benefit of the doubt and congratulate you on the efforts to woo more investments into the country.
Aaaaaaaaaha ah ah ah ha ha ha ha ha.
Where are investors RB woowed from America? Where are the investors MS woowed from India and that meeting in Brazil? I will not believe until after I see the woowed on the ground.
My greatest wish is to see Zambia reach the highest standard economically. To the president, please look into the transport infrastructure so that people stop talking. They still doubt you sir. We, the people in the diaspora are behind Zambia…viva to Zambia and viva to HE.
My greatest wish is to see Zambia reach the highest standard economically. To the president, please look into the transport infrastructure so that people stop talking. They still doubt you sir. We, the people in the diaspora are behind Zambia…viva to Zambia and viva to HE.
The gdp projections are impressive .Hopefully it will translate into a better governed state with opportunities accorded to all citizens .There should be social mobility for aspiring citizens to improve themselves and their lot using education and skills training.It has been the policies of some leaders to keep the citizens ignorant so that they don’t have to share the spoils.lets make zambia a cultured society in the shortest possible time.RUDE society still rules in zambia.
For sure that was sense talk and very inspiring, will be proven within 5 years – lets wait and see sense into actual – on this one excellent presentation.
The PF regime should consult from reputable sources before committing itself to tasks in which it risks losing future govt. revenues and natural resources worth billions of US dollars to desperate prospective western investors. Notice that, such investors have a reputation of inflating what they are worth and they make numerous pledges about adding values to the Zambian economy, yet the opposite is true. Look around Zambia, for instance in Mufurila a copper guru called Grinneaghker. This chap is a typical case of a tax invader, he ran away from his homeland (US) for the same crime and settled in Switzerland. He is currently defrauding the Zambian govt. using similar tactics he used in the US, albeit Bill clinton gave him armnest after paying the taxman correct taxes. Viva HH, UNPD
Are you referring to Marc Rich who was pardoned by president Clinton?
Because if you are, Marc Rich no longer has anything to do with Glecore (Grinneaghker). He started the company but sold the company after being accused of tax evasion in the US.
Notice that it is not a question of just engaging business community, that is simply an introduction to an intricate interaction. The question is, are the inputs which entity brings to the table forthright and, mutually realistic and beneficial to the constituencies in Zambia not only to the powers that may be? Approving what the Satas of this world are doing without weighing the costs and benefits of their knowledge about the behaviour of these so called investors, is like counting eggs before they hatch. On the one hand, the PF is both desperately trying to paint a picture that it is delivering and it is driven by mere excitement in which it cannot really redefine it role as a simple care taker not a legitimate architect of the economy.They hardly have an idea of where they are. Viva HH
On the other hand, the very same PF regime is attempting to position itself as the sole responsible entity of the poor masses who are of the view that it will deliver on the pr-election pledges. However, Zambians of fair minds have already turned the PF ‘s argument upside down on its head, it never deliver to the masses. open hostile attacks on comrade HH and the UNPD. All the above factors which are main ingredients in causing a retardation in development and also attracting opportunistic ruminants of the collapsing American dream are exactly what should convince Zambians that the PF has failed its people. Viva HH, UNPD and knowledge to the struggling masses of Zambia. Peace to all Zambians
I am pretty sure CNP’s speech at the UN General Assembly did not last for just 54 seconds. After praising him highly for his performance by the PF Vuvuzela, I wanted to find out what the fuss was all about. I checked the clip carefully put together by Mmembe to make his readers believe, even that was not good enough. I buried head under table in embarassment when the video was played in the presence of non-Zambian friends. What have we got ourselves into? What an accidental head of State…!! We can’t get quick enough to2016, time appears to drag on.
We shall very soon be there, 2016.
This is better than the village sharing thing between Zimbabwe and Zambia he spoke about to investors earlier.
Loking at the above pictures, one can deduce that those are briefcase investor jst like one guy put it. Sata is a joke to zambia. Wait and see, if u think MMD raped zambia, wait and see sata molest zambia to the core.
#9 Nubian Princess, you are right, some pipo really sound like they need their meds. Ukubwatabwata abantu bamo mwe!!