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Tuesday, August 11, 2020

Government makes strides in reducing costs in doing business

Economy Government makes strides in reducing costs in doing business

Minister of Commerce, Trade and Industry Margaret Mwanakatwe
Minister of Commerce, Trade and Industry Margaret Mwanakatwe

Government is making strides in providing an enabling business environment aimed at reducing the cost of doing business through the implementation of various business reforms.

Commerce, Trade and Industry Minister, Margaret Mwanakatwe says an enabling business environment was cardinal to Zambia’s economy as it will help in investor attraction which later leads to the creation of jobs.

Ms. Mwanakatwe added that notable is the ‘Industrialisation and Job Creation Strategy’ launched in 2012 by the Ministry of Commerce , Trade and Industry which is aimed at transforming the industrial sector by creating more than one million jobs in five years.

She said this when she during the official opening of the Business Forum at the 51st Zambia International Trade Fair (ZITF) in Ndola today.

She also disclosed that the Ministry of Commerce, trade and Industry is in the process of reviewing the commercial, Trade and Industrial Policy in order to come up with two separate policy documents among them industrial and the Commercial and Trade policies.

“My Ministry is currently in the process of reviewing the Commercial, Trade and Industrial Policy in order to come up with two separate policy documents namely; the Industrial Policy and the Commercial and trade Policy in line with the international best practices that will ensure that industry and trade issues are comprehensive addressed.

“In this regard, the Ministry has since developed a Zero draft Industrial policy that has since been subjected to stake holder consultative process before finalisation. The review of the trade policy is ongoing and will be completed soon,” she said.

The draft industrial Policy is aimed at enhancing business linkages between the Micro, Small and Medium enterprises and large manufacturing firms through the promotion of value addition to various primary resources the country is endowed with.

The theme for this year’s International Trade Fair is “Prosperity through Business Reforms and Linkages”.

And United Nations (UN), Resident Coordinator, Janet Rogan said there is need to build partnership skills to ensure there is sustainable investment in the country.

“We need to work together with passion, we need to die a little for the betterment of our country”, she said.

8 COMMENTS

  1. Have costs been reduced or is this a wait like the constitution we are still waiting for. The problem is to many middle men

    • Another blue lie from an incompetent PF Minister. How can cost of doing business in Zambia reduce when ZESCO is switching off power close to 50% of the time. Unfortunately in Zambia, we believe people with fake accents.

    • There is nothing concrete mentioned about what has specifically been done to reduce cost of doing business.

      Rhetoric as usual!!!

      What is the cost of borrowing from banks? Does this cost of borrowing make our goods competitive versus imported goods?

      Margaret, answer this one for us.

  2. Minister if you want to reduce costs look into this…

    most expensive fuel in S.Africa—-Zambia
    most expensive place to fly to in Africa—-Zambia
    Most expensive place to holiday in SAfrica—-Zambia.
    most expensive place to build a road/Km—-Zambia

  3. This is what Politics does to you madam Margaret Mwanakatwe even highly experienced professionals like you turn into educated fo*ls!!

  4. Have more incentives for Zambians to own businesses! Grant access to loans, extend the tax holiday beyond a year, allow them to import things cheaply, help those in the diaspora open businesses in Zambia while they are away!

    Most Zambians abroad want to invest back home, bit the only options available is sending money to relatives, who end up using it at a funeral burying someone.

    I’m bablling, just typing before power goes.

    #Bufi

  5. Hon. Minister, absolute rubbish.

    Apart of yapping and promising “blue moon” at regular intervals, what else have you, either personally or as the minister or as the member of Cabinet done to implement statutory provisions already in place, never mind creating more conductive environment for SME?

    Absolute ZERO

    Please, spare us adding any more insults to four years of injurious mismanagement.

Comments are closed.

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