Invocation of Article 31 will not in any way encroach on investments placed in Zambia-Mutati

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FINANCE Minister Felix Mutati gives his speech during the official opening of the Batoka Gorge Hydroelectric Power, Investors Conference at David Livingstone Safari Lodge in Livingstone yesterday. Far left sited are Vice President Inonge Wina (l) and Zimbabwean Finance and Economic Development Patrick Chinamasa.
FINANCE Minister Felix Mutati
Finance Minister Felix Mutati says the invocation of Article 31 by President Edgar Lungu will not in any way encroach on investments placed in Zambia.

Mr Mutati says what the President has merely done is put measures that will not only protect life but also preserve peoples investments in the country.

He said the freedom that investors have been enjoying will continue to be enjoyed regardless of the invocation of Article 31.

Mr Mutati says from an economic perceptive, the concerns that investor confidence will be lost as a result of the Proclamation by President LUNGU is merely a perception.

He says investors are happy that the President is putting up measures that will protect their investments in Zambia.

Mr Mutati also mentioned that there has been an increase in the number of bond investors who have placed money in Zambian securities, a move he described as a sign of confidence in the Zambian economy.

Mr Mutati was speaking this morning at Bole International Airport when he was transiting from Brussels where he was attending the World Customs Organization.

He said the World Customs Organization has launched the New Global Transit Guidelines meant to minimize transit time.

He said the transit guidelines will be used as a practical tool by land locked countries to assess their national and regional transit regimes.

He emphasized the need for cutting down on transit time as a measure that would speed up economic growth.

‘’ We need to minimize transit times and stop locking economies in trucks that remain locked up at borders,’’ Mr Mutati said.

He also said Zambia has been selected as the first country in Africa where the transit guidelines will be piloted.

Mr Mutati says the introduction of the One stop Boarder post at Nakonde and Chirundu boarders were already measures that Zambian had put in place to reduce transit times.

He disclosed that government is currently negotiating with the government of the Democratic Republic of Congo on the possible construction of a One Stop Boarder Post.

Mr Mutati was received at Bole International Airport by Charge De Affaires at the Zambian Embassy in Ethiopia, Mr. Samson Mujuda.

5 COMMENTS

  1. vote

    The whole of PF leadership, from the top to the bottom have acknowledged that MMD helped them win the 2016 elections.

    Come 2021 why should the MMD leadership under Mutati play the same role as helper to PF again? When are they going to take their rightful position and win the election for themselves. EL should choose Mutati as running mate, in all fairness. It’s fair that there be power sharing between the two Party’s. Infact, EL should be ceremonial President and let Mutati be Prime Minister and run the country. If PF cannot accept the deal, then MMD should divorce itself from them.

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    Felix Mutati has a rough time to defend the indefensible – loss of confidence by investors. The article begins midway explaining “The invocation of Article 31 will not encroach on investments………… This is in a foreign country where investors come from. So, what was the question asked about Zambia declaring state of emergency. Investors have their own ways of finding truth from repressive dictatorial regimes that expropriate foreign investments.

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    “Mutati says the invocation of Article 31 by President Edgar Lungu will not in any way encroach on investments placed in Zambia…” —- WRONG! It has already.

    I have had two cancellations of interested investors who had booked to come to Zambia to establish new multimillion Dollar businesses and hundreds of jobs CANCEL THEIR VISITS!

    Where are you getting your information from Mutati? Your dreams? Zambia is now a HIGH RISK investment destination and people are looking elsewhere.

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