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Alba Iulia
Thursday, April 2, 2020

Zambia has priotized the Industrialization policy as a key driver in the attainment of economic development

Economy Zambia has priotized the Industrialization policy as a key driver in the...

Minister of Commerce, Trade and Industry Christopher Yaluma says Zambia has priotized the Industrialization policy as a key driver in the attainment of economic development.

Mr. Yaluma says Zambia is committed to achieving the industrialization status as envisaged in the country’s 7th National Development Plan.

Speaking in Addis Ababa, Ethiopia when he held a bilateral meeting with Dr. Benedict Oramah , the President and Chairman of the Board of Directors of African Export and Import Bank, Mr. Yaluma said Zambia is pursuing the agenda in order to be competitive especially when the African Continental Free Trade Area(AFCFTA) will come into force in July 2020.

He said Government has already put in mechanisms such as the establishment of the Industrial parks to realize the agenda of industrialization.

Mr.Yaluma further said government has put a high premium on Agriculture, Tourism and Construction as sectors that are key to help quickly grow the economy and to reduce its dependency on copper.

And African Import and Export Bank President, Dr. Benedict Oramah said the bank is committed to entering into partnerships with countries like Zambia where a strong economic base existed.

He echoed the Minister’s sentiments on the need to create industrial parks saying it was one sector that the bank was interested in funding.

Dr.Oramah further said it was important for member countries to industrialize as the CFTA market will provide the largest market available hence needing non traditional exports.

This is according to a statement issued by Inutu Mwanza, the First Secretary for Press and Tourism at the Zambian Embassy in Ethiopia.

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6 COMMENTS

  1. Industralization is one of the most effective likely panacea to Zambia’s current national challenges. Link it up with an effective R&D and marketing strategy Zambia can become a net exporter and developed country in just under 20 years. We just have to find the right mindset, skillset and patriotic Zambians to drive the strategy. And I know they are there ( Baliko who can do that) if not for the damn-wits politicians.

  2. They have been reading speeches about this topic for the last 20 years..and Christopher Yaluma is a sideshow bob a jokester!!

  3. Jokers indeed,

    If any of them ministers had any brains they would have initiated a GRZ driven solar power manufacturing and assembly industry in Zambia where a hudge internal and external market exists.

    GRZ did not even have to spend a ngwee only time and effort.

    Everything would have been funded externally had saving forests from malasha been highlighted in the project blue print as a main aim of this industry

  4. The problem with politicians is that most of them think and believe we can blindly take whatever they utter. Hon Yaluma, please be truthful and honest. Yes, there is huge and untapped potential in tourism and agriculture in Zambia but these sectors are dead, lets be honest. If tourism was given a premium attention as you put it, what measures have you put in place to ensure are National Parks and Water Catchment areas are highly protected? What incentives are there for entrepreneurs to put up high quality country lodges, town lodges and other hospitality infrastructure? Do you have inspectors to ensure maximum hygiene is maintained? On agriculture, what measures have you put in place to ensure that agricultural inputs are reasonably priced so that the country can be producing all year…

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