Business

State to formulate local content strategy

Mwanakatwe

ESTHER MSETEKA, Lusaka
GOVERNMENT is in the process of formulating a local content strategy to promote inclusive and sustainable growth through increased use of locally-available goods and services in development sectors.

Minister of Commerce, Trade and Industry Margaret Mwanakatwe has envisaged that once the strategy is put in place, a law will be passed to compel business houses to use a certain percentage of local inputs and products in the production and provision of goods and services.

In a speech on Monday, Mrs Mwanakatwe said Government will continue to implement various regulatory reforms aimed at improving the competitiveness of domestic business.
The reforms include online business registration, streaming and automation of key business service delivery points like the online tax system, regulatory service centres and decentralisation of key functions from the central government to local the local authorities.
“Zambia is one of the best investment destinations in sub-Sahara Africa and ranks among the top 10 in Africa on the ease of doing business index.
“This milestone has been achieved through business reforms coupled with exciting investment opportunities and incentives for both local and foreign investor,” she said.
Mrs Mwanakatwe urged foreign companies to partner with local firms especially, for the small medium-sized enterprises by providing adequate shelf space for Zambian products.
She said such an initiative will help integrate local companies into the supply chain of big businesses.

 

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