President Mwanawasa, who said this today when he addressed members of the Community Development Roundtable Chamber here, said business houses in the USA could exploit this opportunity by heavily investing in Zambia’s energy sector.
Dr. Mwanawasa said government had already started seeking alternative sources of energy while it expands the capacity of existing hydro electric power station.
The President told the businessmen during a working breakfast at Rainier club, which
was hosted in his honour by the Initiative for Global Development, IGD, that Zambia
had put in place prudent macroeconomic management measures that have so far
translated into an increase in the economic growth rate.
He said deliberate steps were also being taken to dismantle unnecessary red tape
against business development by way of reducing to one day the company registration
process.
Dr. Mwanawasa told the meeting, also attended by Bill Gates Senior who is the father
to Mr. Bill Gates, the owner of the Giant Microsoft company, that the reform process
to ease the burden of doing business in the country is highly ambitious and will
continue to occupy the Zambian leadership agenda for sometime to come.
The President assured the business community that his government will continue to
provide a stable political and legal environment conducive for business in the
country.
The President was also quick to mention that some of the improvements are processes
that will take time to be fully implement because they require enough time.
“That not withstanding, my government will be steadfgast in implementing all the
reform measured because I believe they are critical for our future success”, Dr.
Mwanawasa said.
The President, however, said he has in the past been disappointed that the response
from the business community in the USA has not been good despite giving them all the
attractive investment conditions.
Dr. Mwanawasa expressed hope that, this time around, there would be a good number of
business delegations visiting the country to set up businesses or even to make
serious enquiries about establising business enterprises in the country.
“I therefore look forward to investments from American businessmen and women to take
advantage of the excellent business climte that we have establishd”, the President
sid.
Dr. Mwanawasa said he was fully aware of the fact that countries like Zambia need
the participation of private enterprises to fight and defeat poverty and as such he
admired the objectives of organisations like the IGD, who have taken it upon
themselves to help wipe out poverty in developing countries.
In the area of agriculture, the President said the abundant arable land was
complimented with climate and plenty of water resources that create a huge
irrigation potential.
Earlier, Commerce, Trade and Industry Minister, Felix Mutati assured the businessmen
and women that when they set up businesses in Zambia, they will be assured of freely
remitting their profits and dividends.
He stressed that Zambia needs serious partners, who will help translate the prudent
investment policy into reality by way of increasing job opportunities for the local
people.
And Acting Director General of the Zambia Development Agency, ZDA, Glyne Michelo
said Zambia has stable microeconomic and political environment, coupled with abudant
natural resources for investment.
Mr. Michelo, who ran through the advantages of investing in Zambia which he said had
easy ccess to markets both within Africa and in Europe, said the government has put
in place deliberate policy incentives for investors.
The President was accompanied at the meeting by First Lady Maureen, Commerce
Minister Mr. Mutati, Health minister Brian Chituwo and Education Minister Geofrey
Lungwangwa.
