Economy on right track – Mwanakatwe

MINISTER of Commerce, Trade and Industry Margaret Mwanakatwe says Zambia’s economic outlook is positive with the gross domestic product growth expected to be above three percent.
And Mrs Mwanakatwe says the country’s inflation rate will continue in single digit.
She said this when she addressed several Moroccan businessmen who are in the country to attend the first-ever Zambia-Morocco business forum.
“Zambia continues to remain a democracy which we believe is a plus for our investment climate. While the economy is moving towards diversification from mining, a lot of opportunities are available in production of engineering and high-tech products, energy, including oil exploration, agriculture and agro-processing,” she said.
Mrs Mwanakatwe said opportunities also exist in tourism, information and communication technology, infrastructure development, manufacturing and education.
“In order to harness these opportunities, Government, through my ministry, has developed multi-facility economic zones (MFEZ) and industrial parks,” she said.
She, however, said the forum is an opportunity to enhance business between Zambia and Morocco.
“Although trade volumes between Zambia and Morocco have been extremely low, there has been a slight increase from US$ 7.7 million in 2015 to US$ 8.5 million in 2016,” she said.
And speaking at the same function, General Confederation of Moroccan Enterprises representative Miriem Bensalah-Chaqroun said the delegation of businessmen is here to build bridges with local investors and explore other opportunities.

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