THE Government’s relentless effort in improving the country’s business environment and attracting foreign investment are being recognised globally, Zambia’s Ambassador designate to France, Dr. Christine Kaseba- Sata has said.
And Zambia has won the award of best state strategy in Africa in recognition of the Government’s efforts in improving the business environment and attracting domestic and foreign direct investment.
Receiving the award on behalf of the Zambian Government at the Africa Investment Forum and Awards ceremony held in Paris, France on Thursday, Ambassador Dr. Kaseba-Sata praised the efforts by the Government in creating a favourable climate for investment and economic development.
“Indeed, the results are there for all to see how Zambia is progressing on this trajectory as the country continues to attract increased investment inflows,” Ambassador Dr. Kaseba-Sata said.
“To those still in doubt about Zambia as the best business strategy destination of choice out there, here is the evidence – it is time for you to come and invest in Zambia!”
She highlighted the World Bank’s 2018 edition of Doing Business Report which named Zambia as one of the best 10 performers in the world, ranking 85 out of 180 and fourth in sub-Saharan region in business reforms and efforts to reduce the cost of doing business.
“Zambia remains a business destination of choice, attracting over 2.5 billion united states dollars of foreign direct investment per year on average as compared to a merger 100 million united states dollars per year a decade ago.” She added.
She further hailed the organisers of the Africa Investment Forum and Awards the Leaders League of Paris and Decideurs Magazine in partnership with a consortium of the most influential French businesses associations for recognising Zambia which won the award jointly with Ivory Coast beating other finalists South Africa, Senegal, Nigeria, Kenya and Gabon that were shortlisted for the award.
Ambassador Dr. Kaseba-Sata said the award would motivate the nation to work even harder in implementing strategies and policies that create a conducive environment for business and foster development of the country.
The Awards ceremony was well attended with a turnout of more than 600 major leaders from both private and public sectors from 22 countries.
Africa Investments Forum and Awards was inaugurated in 2017 with the support of the French captains of Industry namely the Council of French Investments in Africa (CIAN), the French Private Equity Association (AFIC), Paris Europlace, Agence Française de Développement (AFD), Syndicat des Energies Renouvelables, among others.
The award of best state strategy in Africa is dedicated to business opportunities on the African continent in various fields such as Energy, Infrastructure and City Planning, Mergers and Acquisitions, Growth Strategies and Real Estate Industries.
The Government has made tremendous efforts in realigning the economy through diversification from a mono-economy dependent mainly on copper exports as the main revenue earner.
Under the Seventh National Development Plan launched by His Excellency President Edgar Lungu to run from 2017 to 2021, the Government aims at developing Zambia to a prosperous middle-income nation by 2030.
The Government has prioritized agriculture, tourism, investment in the energy sector, infrastructure development and manufacturing as key growth sectors to raise Zambia to achieve job creation, address poverty while reducing the people’s socio-economic vulnerability, reduce developmental inequalities and enhance human development.