NOMSA NKANA, Lusaka
THE ZAMBIA Development Agency (ZDA) says Government has tried to reduce involvement in business to pave way for enhanced private sector participation.
ZDA director general Patrick Chisanga said Government is of the view that it should not meddle in business but rather promote private sector involvement in the economy.
Mr Chisanga said, Zambia has taken steps towards opening up the economy by promoting and encouraging complementarity between Government and the private sector.
He said this in Lusaka recently when he addressed Zambian entrepreneurs and a business delegation from the Netherlands.
“To a very considerable extent, Government is limiting its role to creating a conducive regulatory framework and providing the necessary infrastructure for the private sector to flourish”, he said.
Mr Chisanga said it is against this background that Government has implemented economic reforms directed at attracting private sector and making it easier to do business in the country.
He said the reforms have given Zambia notable rankings among others such as 11th most competitive country in Africa in global competitiveness and the fifth most attractive economy for investments flowing into the African continent.
Mr Chisanga also said these rankings testify to the fact that Zambia is enjoying tremendous investor confidence as it is a country where the private sector is encouraged to flourish.
He said Zambia is a favourable investment destination because it is a country where investors can and are earning high returns on their investments in a peaceful and democratic environment.
“It is worth mentioning that most keen economic observers will note that Zambia has made outstanding economic progress in recent years with a generally positive investment climate”, Mr Chisanga said.
He said despite the economic headwinds that Zambia faced in 2016, the country is now on the rebound and favourable for investment.