THE Zambian economy does not have market controls and as such, it provides the best investment opportunities in Africa, the Zambia Chamber of Commerce and Industry (ZACCI) has reassured investors.
ZACCI chief executive officer, Prisca Chikwashi, emphasized that the Zambian economy had a well advanced free market without regulations such as price, exchange and interest controls which enabled both local and foreign investors to be treated equally.
Ms. Chikwashi reassured investors that Zambia remained one of the best investment destinations in Africa due to its conducive and predictable business environment.
She explained that Zambia was an attractive investment destination offering various lucrative investment opportunities in tourism, agriculture, manufacturing, energy, mining, construction, education and other sectors.
“The country is characterised by a growing economy with generally stable macroeconomic environment, stable political system, investment guarantees and security, duty free access to regional markets, conducive laws and policies from successive Governments who have demonstrated political will and commitment to encourage both domestic and foreign direct investments,
“The trade relations between South Africa and Zambia reveal some important business trends that highlight some opportunities, South Africa remains a major business partner for Zambia,” Ms Chikwashi said.
She was speaking recently during the Zambia, Trade and Investment KwaZulu-Natal trade mission forum in Lusaka.
Ms. Chikwashi also said Zambian businesses could help South African counterparts to tap into the great market that was in the region through mutual collaboration of investment opportunities.
She said although the trade balance was in favour of South Africa, there was potential to balance the trade saying ZACCI was keen to assist in actualizing increased business linkages and joint ventures.
Speaking at the same function, Commerce minister, Christopher Yaluma, said Government was currently putting in place key strategies which would enable the opening of new markets in Zambia and lowering the cost of doing business.
Mr. Yaluma said Government continued to implement a comprehensive business reform programme aimed at creating a conducive trade investment climate to attract both local and foreign direct investment.
“Government has prioritized infrastructure development as key strategy to facilitating diversification and industrialization of its economy. The main thrust has been road construction and rehabilitation among others,” Mr. Yaluma said.
Mr. Yaluma had since encouraged the participants to use the forum and stimulate more direct interactions between the private players from Zambia and South Africa.
He explained that the forum signified the cordial bilateral relations that existed betwen the two countries.
Meanwhile, South African High Commissioner to Zambia, Sikose Mji, announced that 12 companies from KwaZulu Natal were in Zambia looking for investment opportunities in different sectors of the economy.
In a speech a read for her by the commission’s first Secretary political, Kerosha Rainjettan, Ms Mji said the trade mission sought to improve the trade balance between the two countries.