MINISTER of Commerce, Trade and Industry Margaret Mwanakatwe says Zambia has recorded an investment pledge of over US$3 billion in the last one year and that this will result in creation of about 17,000 jobs.
And Minister of Foreign Affairs Harry Kalaba says Zambia is poised to register growth in Gross Domestic Product (GDP).
Mrs Mwanakatwe said about US$500 million has so far been actualised from the US$3 billion pledged investment.
She said China and South Africa are among the top countries making various investments in Zambia.
The two ministers were speaking at Bole International Airport in Addis Ababa, Ethiopia, on Sunday on their way to Egypt, where President Lungu had been scheduled to travel for a State visit today. The President’s trip has been cancelled.
This is contained in a statement issued yesterday by first secretary for press and tourism at the Zambian Embassy in Addis Ababa, Naomi Nyawali.
Mrs Mwanakatwe said Zambia is performing well in attracting investments as there is growing interest to invest in Zambia.
She said the economic outlook is positive as inflation is under control at 6.7 percent while the exchange rate is also stable.
Mrs Mwanakatwe said bank interest rates have reduced following the reduction of the monetary policy rate by the Bank of Zambia.
She said Government is vigorously pursuing the diversification programme by incorporating the private sector.
“Zambia is paying attention to the value addition agenda as one way of achieving diversification,” Mrs Mwanakatwe said.
And Mr Kalaba says Zambia is poised to register growth in GDP once the Foreign Service Bill is passed in Parliament.
Mr Kalaba said the Bill will facilitate growth of the country’s economy through effective implementation of the foreign economic policy.
He said Zambia is making modalities to increase its trade volumes with countries it has bilateral agreements with.
Mr Kalaba has since instructed members of staff in all foreign missions to adhere to the provisions of Zambia’s foreign policy to ensure that the country gets maximum benefits from nations where it has missions.
“Zambia is on the international scene for its own interest and as such, Zambian missions in various parts of the world are expected to perform to satisfaction.
“Officers in foreign missions who will not perform to the expectations of Government will be recalled as they are required to work extra hard and ensure that they keep the Zambian flag high,” Mr Kalaba said.
And now you are proud?Generate some money in your own country for development!!!
So the pledge was $3billion and on the ground investment is $500m …you are proud of youreselves …really laughable..not even 50%… this is from usual suspects RSA and Chines. I wonder how much is retail in that figure for RSA. This is what happens when you have no benchmarks and led by kaponyas!!
Pledges are just that – pledges. A more meaningful statistic is actual investments and jobs created. This is one thing that ZPA have failed to report on every year.