US$179m investment in car assembly applauded

Tue, 03 Jan 2017 07:17:28 +0000

By MUKOSELA KASALWE

THE Government should continue to encourage investments in the manufacturing industry and not solely those based on consumption such as shopping malls, says People’s Party president Mike Mulongoti.

Mr Mulongoti said that there was need for the Government to continue to offer attractive incentives as well as policies to investors in the manufacturing industry, and he expressed concern that more investors seemed more interested in putting up shopping malls compared to the manufacturing industry.

He made the remarks on Wednesday, during the commissioning of US$179 million car assembly by Minister of Commerce, Trade and Industry Margaret Mwanakatwe at the Lusaka South Multi-Facility Economic Zone, saying the establishment of the plant would help bring in forex and provide employment to the local people.

“The establishment of the car assembly we are witnessing today is a commendable thing and I would like to urge the Government to encourage more of such investments in the manufacturing industry.

“What we are seeing are more and more shopping malls but such investments are based on consumption. We need also more investors in the manufacturing industry like we have seen today. This car assembly plant will help save the much needed forex that the country needs and be able to transfer skills and provide employment to our local people,” Mr Mulongoti said.

Mr Mulongoti, who is a former Cabinet minister, also expressed concern that shopping malls had continued to import products such as mangoes, pineapples among others which could be locally sourced, saying such a move was disadvantaging local producers.

And Commerce, Trade and Industry Minister Margaret Mwanakatwe called on more local as well as foreign investors to take advantage of the attractive package offered by the Multi-Facility Economic Zones (MFEZs).

Ms Mwanakatwe expressed happiness that local people were investing in the MFEZs but cited inadequate marketing as the setback that has seen a shortfall of investors in the zones.