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Tuesday, March 31, 2020

Mwanakatwe urges manufacturing sector to increase to 18 percent by 2030

Economy Mwanakatwe urges manufacturing sector to increase to 18 percent by 2030

 

Zambia International Investment Forum 2016 Launch: Zambian Minister of Commerce, Trade and Industry Margaret Mhango Mwanakatwe delivering her speech
Minister of Commerce, Trade and Industry Margaret  Mwanakatwe.

Minister of Commerce, Trade  and  Industry  Margaret Mwanakatwe says  there  is need  to increase the manufacturing  sector’s contribution  to the country’s  Gross Domestic Product (GDP).

And speaking earlier, United Nations Resident Coordinator Janet Rogan observed that innovation is not only at the heart of ZITF but also at the business and private sector growth.

Ms. Mwanakatwe said the strength of any economy lies in the manufacturing sector.

The Minister, therefore, has urged all manufacturing industries to put much emphasis on growing the sector from 6.8percent currently from 2014 to 18 percent by 2030.

ZANIS reports that the Minister said at the official opening of the 2017 Zambia International Trade Fair (ZITF) Business Forum in Ndola today whose theme for the year is “Innovation for Industrialization.”

And speaking earlier, United Nations Resident Coordinator Janet Rogan observed that innovation is not only at the heart of ZITF but also at the business and private sector growth.

Ms. Rogan said innovation is vital for transformation and also for the private sector if it is to lead the way by ensuring that not another 50 years is spent on repeating the old formulae.

She noted that the private sector is the core functional constituency in the 7NDP as it brings growth and jobs.

Meanwhile, Commerce, Trade and Industry Permanent Secretary Kayula Siame urged the Industry to take innovation as an important tool to support the Industrialization drive for the country to move forward to fostering economic growth

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7 COMMENTS

  1. NO, US IN UPND WE BELIEVE THAT IT IS ONLY US WHO CAN DEVELOP THE COUNTRY. AND THIS WOMAN IS NOT A TONGA SO AUTOMATICALLY SHE CANNOT DO ANYTHING GOOD. SHE IS BEMBA. UNTIL WE RULE ZAMBIA. WE SHALL NOT SUPPORT ANYTHING FROM A NON TONGA.

    • The manufacturing sector will not develop if PF victimises local entrepreneurs with ZRA, ZABS and no access to affordable loans. The whole sector is now left to Indians and Lebanese who have access to cheap Islamic banking funds.

  2. “The strength of any economy lies in its manufacturing sector” If that is the case why does government keep ma,ing announcements that the way forward for zambia is the diversification of is AGRICULTURAL sector.
    Does the left had know what the right hand is doing. A government of policy by rhetoric based on what forum they are attending. The governmentvwznts recognition but shows its lack of cohesion constantly

  3. With interest rates at 40%, where the money for investment will come from? EuroBonds or IMF stolen money?

  4. yes i believe with that manufacturing industries should be increased bit what u are forgetting is that the playing ground is not fertile to support that coz of HIGH ELECTRICITY TARRIFS,HIGH COST OF RAW MATERIALS(imports) UNLIKE FINISHED GOODS FROM OUTSIDE and hence companies prefer to import rather than manufacturing.And you as minister a work on modalities to bring back those companies who where here in the past to come and start manufacturing goods and services here in Zambia unlike what is happening where they are producing from other countries and come to packaging here in Zambia what shame on your cabinet and economic adviser which you have.Companies like COLGATE PALMOLIVE,JOHNSON AND AND JOHN,UNI-LEVER,RICKET AND COLMAN,BOART LONGYEAR ,DUNLOP Cet these companies where manufacturing…

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