|
ZAMBIA SHOWS AFRICA IS READY FOR BUSINESS
|
|
THE ZAMBIA HIGH COMMISSIONER to the UK. H E Anderson Chibwa has urged strategic investors from all over the world to partner and be part of the investment turn around taking place on the continent of Africa.
In a speech to officially open the 2nd Zambia investment forum to have taken place in the UK, Mr. Chibwa said, Zambia had over the years become a symbol of good governance and a model for prudent economic activity. He said “ with a government committed to promoting economic diversification and global competitiveness through partnership with the private sector, Zambia can confidently say it is ready for business.
He said Zambia has abundant resources, including labour, water, land, wildlife and gemstone in addition to quantities of copper and other base metals to exploit and He urged the private sector to take advantage of this open invitation. The minister of finance of Zambia, Hon. Ng’andu Magande and the minister of commerce, trade and industry, Hon. Kenneth Konga respectively gave an overview of the how ready and far the country has gone with stabilising the economy as well as thew prospects for growth in the coming years. |
From a negative economic growth in 2001, the economy at the end of 2006 had recorded a 5.8% growth. Inflation which was over 100% in 2001 had been brought down to a single digit of 8.2%. The country's external debt of $7b has been reduced to $ 0.7b in 2006. Foreign direct investment had risen from $172m to $400m as at 2006. From all these indicators and more both ministers invited the investor community to come and experience Zambia and it’s economic activity.
Zambia which lies in South Central Africa has a population of over 12 million people and it also has a total land mass of 752,614 sq km.
It is a land locked country which boarders countries such as Angola, Democratic Republic of the Congo, Malawi, Mozambique, Namibia, Tanzania and Zimbabwe.
Speaker after speaker reiterated that the country had laid plans for any investment an economic take off of the country.
|
