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Chikwanda says private capital flows essential towards development

Economy Chikwanda says private capital flows essential towards development

Finance Minister Alexander Chikwanda delivering the 2015 budget
Finance Minister Alexander Chikwanda

Government says private capital flows is essential for the attainment of sustainable development.

Finance Minister Alexander Chikwanda says countries like Zambia need to accelerate her economic growth and social development in finance from the private sector.

Mr. Chikwanda said the private sector provides a long term and formidable avenue to accelerating growth and development.

The Finance Minister said this in Ethiopia during the third International Conference on Financing for Development which runs from July 13 o 16, 2015.

He said business and markets form an important cornerstone for sustainable development hence the need to provide appropriate policy space within which they could operate effectively in Zambia.

He said Zambia has been implement reforms which are aimed at improving tax mobilization in the country which at international levels have been achieved through entering bilateral agreements on tax information.

He disclosed that Zambia, which is the least developed y and land locked country recognizes the importance of trade facilitation and meaningful integration into the world as vital requirement to ending extreme poverty needs support to enhance her export growth and value addition then the implementation of priority areas outlined in the Istanbul program of action and the Vienna program of action.

Mr. Chikwanda called for global community to prioritize investment in technology, research and development that are anchored on three pillars namely research, technology advancement and innovation.

He said the conference provided for an opportunity to emerge into a stronger but well-articulated strategy for putting countries like Zambia on the right economic path.

Mr. Chikwanda said Zambia looks forward to Ethiopia for the outcome which has an ambitious framework to complement the post 2015 development agenda.

Zambia’s Ambassador to Ethiopia Susan Sikaneta and UN Secretary General Ban Ki Moon are among those attending the 3-day Conference.

4 COMMENTS

  1. Which private capital can come to Zambia with the lawlessness where private property funded by private capital is being grabbed? Black mountain is an example of private capital grabbed by politicians and jerabos! Private investors are aware of this!

  2. Okay. The buzz words are….Acceleration,
    land locked country and

    recognizes the importance of trade facilitation and meaningful integration!

    Put like that it all makes sense, …..but we are kind of holding on tight to this fast moving, bumpy ride at the funfair!

    Please, PF make all your development projects pay. Control costs and quality. Do we need to slow down a bit with borrowing though?

  3. The private sector in Zambia is by and large foreign driven and cannot meet most of the country’s demands for economic growth. What this government needs to do is to promote a home grown private sector from which all variables- employment, goods and services (production), profits, taxes, etc will add value to the economy. Not this waffling.

  4. Old fossil, we have heard this song before!

    Which businessman is going to invest in Zambia where PF borrowing has driven interest rates through the roof?

    Which businessman is coming to Zambia with ZESCO load shedding?

    Which businessman is going to invest in Zambia where fuel prices are the highest IN THE REGION?

    And which businessman is going to invest in Zambia with a corrupt, lying, and useless Government and an incompetent clown of a Finance minister?

    Do you really think investors are as stupid with their own money as the PF is with our taxes?

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