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Alba Iulia
Thursday, July 9, 2020

Your Investments Are Protected By The Governing Law Of The Land, ZDA Chief Assures Investors

Economy Your Investments Are Protected By The Governing Law Of The Land,...

The Zambia Development Agency (ZDA) has assured investors and businesses in general that their investments are safe and protected by the governing law of the land.

ZDA board Chairperson Fisho Mwale said the Agency understands the important role investors play in sustainably enhancing economic growth, wealth creation and job creation for the people of Zambia as well as the need to adhere to the laws that govern how businesses are to be run.

He said the agency however regrets the incidents that have occurred in recent days in which lives have been lost, and Zambian workers being subjected to harsh conditions of service.

Mr Mwale said Zambia needs foreign direct investment (FDI) as it is a conduit of transferring foreign capital investment abroad and directly contributes to expanding investment and tax base in the country and is key in addressing the problem of unemployment through the creation of new job opportunities and the introduction of advanced technology.

He said it is pertinent to recognize that the peace, rule of law and the political will that the country enjoys is one of the major attributes that makes Zambia the best investment destination of choice in the sub region and therefore it is important that we recognize the need to preserve it at all cost.

Mr Mwale assured that Zambia is enjoying very cordial and warm relations with most countries and as such has attracted major investments from those countries in keys sectors of the economy.

“I wish to state that in view of this, it has become imperative that as a country we need to manage our due process in a the dispensation of the law, without jeopardising our good standing with the investor community, that the people of Zambia have worked so hard to build, but in the same vein we call upon all investors to adhere to the laws obtaining in this country for the mutual benefit of all parties involved” Mr Mwale.

He therefore urged and encouraged all businesses operating in Zambia to engage relevant authorities to further orient themselves with applicable laws and policies if in doubt.

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16 COMMENTS

  1. “He said the agency however regrets the incidents that have occurred in recent days in which lives have been lost, and Zambian workers being subjected to harsh conditions of service.”

    Look at him he is scared of mentioning the Chinks …the country has truly been sold

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  2. Just a rhetoric republic. Talking and talking, but on the ground peoples livelihoods are worsening by the day

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  3. Investments are protected by governing law of the land. It just takes a flick of a switch to change the law to suit you as long as you have a simple majority in parliament.

  4. Investors have done us more harm than good when will we wake up, investors are modern day colonizers

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  5. Wht investments? Day ad nite you sing ad protect only foreigners for the wrong doings, ad l can’t rule out tht you are corrupt bunches of fools.
    Foreigners are well protected, wht abt the Zambian workers, they are bad treated, under paid, no safety ad you turn a blind eye. So these agencies, there for foreigners? It’s a pity ad very shameful to hv such leadership.

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  6. The grumbling voices are confused. This is no time to start violating investors whom we welcomed to help us rebuild our economy. We must move forward steadily and not allow loud mouths electioneering for their ‘favourite guy,’ to deter us succeeding.

    The statement by ba Fisho is a correct message, to encourage investors to remain until the good times return. It’s good to see ba Fisho back on top….good job!!!!

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  7. Fisho Mwale: This is about physical security and therefore is a proper case for the Minister of Home Affairs to handle. ZDA is not in the business of providing physical security to investors. Fisho Mwale is just trying to sound relevant. This matter is, however, beyond his mandate. I think he’s just trying to keep his name in the news in readiness for another shot at the Lusaka mayorship or something higher.

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  8. SOME OF CONDEMNING CHINESE INVESTIMENTS IN ZAMBIA HOW MUCH DO YOU PAY YOUR MAIDS AT YOUR HOMES? HOW DO YOU TREAT THEM? ZAMBIANS ARE THE WORST EMPLOYERS AND WORST EPLOITERS

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  9. What is giving investores second thoughts about comming to Zambia is lungus attacks on democracy has put Zambia on a very thin path with the international community……..most investores would be wary of committing to a country on the edge of pahraiah status Zambia finds itself.

    Most investores know the west is very weary of a lungu come Mugabe in the region.

    If the lungu regime was no oppressive to the opposition and ruled on merit granted by the electorate , investores would be flocking to Zambia….

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  10. Investors also want to know whether there is a capable local human resource capital to run their business. We shouldn’t just sell peace, let us also tell them there is a ready and hardworking human resource capital who can help them run their business. I was really embarrassed to receive a message from the CEO of one of our investors asking me where he could find qualified personell in Zambia. Minister of education and labour please work with your colleagues at ZDA. Human resource is your best capital for now since you don’t yet have intelligent machines like your western colleagues.

  11. One way of bridging the education – skills gap is to upgrade our curricula to match industry needs. Business needs are changing at lightening speed so our unis have to be proactive in training students for these jobs. I don’t see why BMW or apple computer cannot open a factory in Zambia if we have the ready human capital. Aren’t these the brands you Zambians buy? But secret ba Chief is human capital. It is hard to move high level talent from silicon valley to Lusaka because such talents have certain lifestyle standards so we gotta train our own.

  12. No bad intentioned investor should be protected. When the country has no respect for the rule of law, pirates like Fisho Mwale becoming respectable because of nepotism and wako ni wako, Zambians should not accept a situation where they being disenfranchised by a corrupt group of individuals running the country. We should prepare for change and enactment of a new Constitution to usher in a new republic. New need complete transformation and the corrupt individuals brought to swift justice. All systems of governance need upending and reconstitution. Citizen empowerment should become the mantra.

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