You are currently viewing Sweden urges more support for private sector

Sweden urges more support for private sector

A SWEDISH embassy bilateral development cooperation advisor has urged Government to support the private sector to fully contribute to the development of the country’s economy.
Swedish embassy counsellor head of bilateral development cooperation David Wiking said sustainable economic growth can only be achieved by a competitive private sector.
He said in an interview recently, that without the private sector’s participation, there could be no poverty reduction.
“The challenge is that most of Zambia’s income is dependent on the mining sector. The private sector can play an important role in reducing dependence on the mining sector…Support [is needed] from Government to build their capacity,” he said.
He cited lack of training on how to manage businesses by most private sector businesses as a challenge which hinder growth, saying “there is need to acquire the technical know-how and to come up with new ideas.”
Mr Wiking said Government has a duty to help the private sector to grow by creating a conducive business environment.
“I think there is need for a conducive environment, that would be the most important item, but it is also vital to ensure that all Zambian participants utilise the potential available in the country,” he said.
He also urged multinational companies not to only invest in the mining sector but to also seek opportunities in other sectors such as agriculture where there is a lot of potential which is untapped.
“There is still room for innovations and entrepreneurship. There is so much potential and opportunities in the agriculture sector and it can significantly contribute to the growth of the economy,” he said.