Zambian gov't reaffirms commitment to create favorable business environment

The Zambian government on Tuesday reiterated its commitment to creating a conducive environment to allow for a booming private sector.

Inonge Wina, the country's vice-president, said the government has been endeavoring to create a conducive environment by reforming policies through removal of some business regulations.

In remarks delivered at the start of a two-day National Economic and Business Conference in Lusaka, the country's capital, she said the government recognizes the importance of the private sector in economic development and job creation.

The private sector, she said, was the backbone of the country's economic development, hence the need to ensure that it operated in a conducive environment.

According to her, without addressing the various challenges faced by the private sector, it would be difficult for the government to achieve its development goals, adding that a strong partnership with the private sector was vital.

The theme for the two-day conference is "Achieving Inclusive Growth and Development through Diversification and Industrialization," which the Zambian vice-president said tied well with the government's agenda of promoting diversification and industrialization to unlock the country's potential.

She further underscored the importance of micro, small and medium enterprises as key drivers of economic growth.

Geoffrey Sakulanda, the president of the Zambia Chamber of Commerce and Industry (ZACCI), called for close collaboration between the government and the private sector in order to achieve the government's diversification and industrialization agenda.

While commending the government for putting diversification and industrialization at the center of development, he noted that this will only be achieved if there was strong partnership in addressing several challenges facing businesses in the country.

Minister of Commerce, Trade and Industry Margaret Mwanakatwe said the government's focus was to make Zambia an industrialized nation.

She however said this will only be achieved through private sector participation.

The objective of the conference, organized by the private sector, was to offer the government objective economic advice on formulation of appropriate national economic policies to achieve growth through diversification and industrialization. Endit