Private sector, Govt partnership vital to foster investments

Sat, 21 Jan 2017 14:12:08 +0000

By BUUMBA CHIMBULU

THE private sector must work with Government if Zambia is to raise its ranking in the cost of doing business while creating vast investment opportunities, says Ministry of Commerce, Trade and Industry permanent secretary Kayula Siame.

And Ms Siame has announced that Zambian Government will host the Ease of Doing Business Initiative (EDBI) Conference.

Ms Siame said it was unfortunate that Zambia had dropped four places on the 2017 EDBI ranking, ninth in Africa while seventh in Sub-Saharan Africa.

Speaking at a media briefing in Lusaka, Ms Kayula said Zambia’s gains in improving its business environment had been huge.

And Ms Kayula said the EDBI Conference offered an excellent opportunity for participating African countries to learn from each other’s experience in implementing reforms.

“This knowledge transfer gathering offers an excellent opportunity for the participating African countries to learn from each other’s experience in implementing reforms, thereby facilitating job creation by the private sector,” she said.

She said the conference was scheduled to take place from May 16th to May 18th, 2017 in Livingstone under the theme “doing business reforms for industrialisation, value addition and job creation”.

Dr. Kayula said the EDBI conference was a peer-to-peer learning event requested by African countries and supported by the World Bank G 0roup, to facilitate knowledge sharing on doing business reforms.

She said it also aimed at showcasing and facilitating replication of best practice, best fit in reforming, ideas, opinions and expertise on the legal and institutional framework.

“This underpins successful business environment reforms in order to help pave way for bigger and better business and increased investment flows in southern Africa,” she said.

Speaking earlier, Zambia chamber of commerce and industry (ZACCI), chief executive officer Prisca Chikwashi commended Government reforms such as the simplified business registration easy.

Ms Chikwashi had since urged the private sector to take advantage of the partnership and utilise what Government was providing to create a favourable business environment.