Friday, March 29, 2024

President Lungu calls for expansion of economy

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Zambian President Mr Edgar Lungu at the Dr David Livingstone Safari in Livingstone The Summit of the African Union Committee of Ten Heads of State on the Reform of the Security Council on Saturday 10th May2015 . Pictures By EDDIE MWANALEZA/STATEHOUSE.
Zambian President Mr Edgar Lungu

President Edgar Lungu says Zambia should not only be confined to expanding the ‘traditional’ sectors like agriculture and tourism but switch to modern ones in order to grow the economy.

President Lungu says Zambia can learn from developed countries like France which has highly explored and developed in newer sectors such as solar energy.

President Lungu was speaking in Lusaka today when a delegation of French businessmen paid a courtesy call on him at State House.

Mr. Lungu said Zambia is cruising to develop her economy to suit that of France and other developed economies because she is endowed with abundant land, water and other natural resources.

The Head of State assured that Zambia is a safe destination and haven for investment and appreciated the private public partnership that exists with government.

He said the private sector is the engine of any economy and reiterated his government’s determination to continue wooing investors in the country.

He further assured the visiting French business community that government through the Ministry of Commerce,Trade and Industry would make the business regime favourable.

He said his administration would give investors good incentives in form of reduced tax, non-tax incentives such as investment guarantees, protection agreements and free facilitation for application of permits, licences, land acquisition and utilities.

“If foreign companies operating here in our country closes, we lose as a country, so it’s imperative that we attain a 50 – 50 deal,” President Lungu said.

Delegation Leader Gerald Wolf disclosed that the International Movement des Enterprises de France (MEDEF) who are in the country on a fact finding mission would explore opportunities in Zambia with the assurance made by President Lungu.

Mr. Wolf, who is Vice Chairman of the Africa Committee, hinted that Zambia has proved to be a good destination for investment, hence the delegation coming here.

French Ambassador to Zambia Emmanuel Cohet pledged to woo more companies from his country to invest in Zambia.

Mr. Cohet reiterated his government’s commitment to cementing further the bilateral ties existing between France and Zambia.

The French Envoy added that exchange programmes would be heightened with such platforms.

MEDEF International is the most representative organisation of the French private sector at an international level and represents the French Business Confederation (MEDEF) and its 800,000 companies in the world.

MEDEF International also gathers more than 6,700 French companies already operating in the world in 77 Business Councils headed by 40 Chief Executive Officers of major international French companies.

Commerce, Trade and Industry Deputy Minister Miles Sampa assured President Lungu and the visiting business executives that his ministry would push the task given to fruition in order to benefit the Zambian people.

Mr. Sampa said investing in Zambia would translate into transforming Zambia’s economy and also creating jobs for the locals.

He disclosed that the visiting business executives would have audience with the Zambia Development Agency (ZDA), Zambia Chamber of Commerce and Industry-ZACCI and the Zambia Business Forum among others in order to explore the country as it provides the best investment destination in the region.

6 COMMENTS

    • ON WHAT BASIS IFINTU NI LUNGU? IT IS MY CONSIDERED VIEW THAT HE IS THE WORST PRESIDENT WITH NO VISION. HE CLAIMS THAT ZAMBIA IS CRUISING TO DEVELOP TO CATCH UP WITH COUNTRIES LIKE FRANCE, IF I MAY ASK WHAT PROGAMMES HAS HE PUT IN PLACE TO MAKE ZAMBIA CRUISE AS PER HIS CLAIM? I DO NOT THINK OF ANY DEVELOPMENT PROGRMME IN PLACE. CAN A COUNTRY REAALY DEVELOP BY MERE CLAIMS, WITHOUT ANY DEVELOPMENT PROGRAMME IN PLACE? IF INDEED ZAMBIA WAS CRUISING TO DEVELOP, WE WOULD NOT BE TALKING OF HIGH UNEMPLOYMENT LEVELS AND HIGH POVERTY LEVELS. THE TRUTH IS THAT ZAMBIA IS GOING NOWHERE. THE COUNTRY IS ECONOMICALLY AND SOCIALLY COLLAPSING EXCEPT IN THE MIND OF mwila AND EL.
      FELLOW COUNTRYMEN AND WOMEN, LET US WAKE UP AND STOP LIVING IN DENIAL, PRETENDING THAT ALL IS OK WHEN NOT. THE COUNTRY IS DYING.

  1. Oh my God!!! It’s worse than I thought. Really Lungu! How could you call for the “expansion of the economy” when indeed its your Job, you get paid to do just that, Expansion of the economy ought to give you sleepless nights and now you are calling on others to do that? God help us.

  2. Copycat. Just because he has seen HH being interviewed he wants to do the same. He is just waffling. He doesn’t know what he is talking about. Cruising to economic expansion when you have just been downgraded by Moody.

    • Ha ha ha ha, @ Muzamai you’ve cracked my ribs. Its the me too syndrome at work guys. Waffling visionlessly, Ala bwafya.

  3. Sometimes I wonder whether this guy is normal. Who is he urging to expand the economy when it is his job. Clearly tapaba plan ba Lungu.

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