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Thursday, July 9, 2020

National Economic Advisory Council calls on Private Sector to help with industrial diversification

Economy National Economic Advisory Council calls on Private Sector to help with industrial...

Commerce Trade and Industry Permanent Secretary, Siazongo Siakalenge , accompanied by District agriculture coordinator ,Mwanji Chela,(right) who was representing the acting District Commissioner Ngoni Moyo, director of industry ,ministry of Commerce Trade and Industry(far left) and other senior government officials and district heads of departments lead by Nitrogen Chemicals of Zambia Chief executive Zuze Banda (middle) during a tour of Nitrogen Chemicals of Zambia plant in Kafue.

The National Economic Advisory Council (NEAC) has called on the private sector to play a leading role in accelerating industrial diversification and job creation.

NEAC Executive Director Webby Wake says the private sector has a significant role to play because it is regarded as a vehicle that should be used towards actualizing various government economic plans such as the implementation of the industrial development plan.

Mr. Wake was speaking in an interview with in Lusaka yesterday.

He explained that it is with this realization that NEAC will on 29th August 2018 host a high level business leader’s government conference aimed at bringing government policy makers and private sector players to discuss issues intended at improving the living standards of people in the country.

He added that the conference will also enable the private sector engage government on policies that support the development of their industry.

Mr. Wake stated that this is to ensure that government programmes buy-in from the private sector which is supposed to be the executer and provider of jobs that government want to create in line with the Seventh National Development Plan.

He observed that mostly the private sector would ask for different incentives to be provided to run their businesses at the time when the state also wants to raise revenues for running of government programmes.

Mr. Wake noted that this is why their request do not usually receive the intended response, adding that it for this reason that the private sector are encouraged to take advantage of the conference and engage government on how best they can work together to promote job creation through industrial diversification.

And speaking in a separate interview Private Sector Development Association (PSDA) Chairperson Yusuf Dodia praised government for creating an enabling environment that supports the growth of the private sector in the country.

Mr. Dodia pointed out that the conference engagement will go a long way in strengthening the relations between the private sector and government for the benefit of the people.

He noted that the decision to host a conference is also an indication of how much government appreciates the effectiveness of private sector involvement in the development implementation process.

The PSDA Chief further called on Industrial Development Corporation (IDC) and the Zambia Development Agency (ZDA) to intensify their marketing activities and create more private sector investment opportunities to attract more players to the sector.

The high level business leader’s government conference will be held under the theme “Accelerating the implementation of industrial diversification and job creation”.

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  1. Look at their balance sheets and see how much they pay for borrowing money in Zambia. Even those who borrow out of Zambia are having to pay more because of the poor credit rating of the country due to fact that the risk analysis starts from Zambia’s rating. If we can’t address these issues forget. Even the little that is emerging can collapse.

  2. The biggest consumer of goods and services in Zambia is the Government, it’s difficult for any business to succeed without trading with Govt. However, Govt and quasi Govt spending agencies look down upon local enterprises. Further most buyers and their bosses are also suppliers, if you take fingerprints of quotations attached to orders you’ll discover that they were handled by the same people. It’s no use to even register with ZPPA as a vendor because it doesn’t give you any advantage. Now how do expect the private sector to help grow the economy? Their invoices remain unpaid for longer periods

  3. Government policies and high taxes won’t allow. Then there is also the eurobond and total breakdown of law and order with land grabbing and encroachment coupled with various types of licences, permits etc and payments to local authorities etc etc.

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