The Zambia Development Agency – ZDA has called on investors in the country to take advantage of the high returns investment opportunities on the Zambian market to re-invest their capital and profits to effectively contribute to the country’s development.
Speaking during the first ever investment symposium in Lusaka on August 15, 2019, organized by ZDA, the Agency’s Board Chairperson Mary N’cube observed that investors who are not re-investing are instead repatriating their profits leaving the local economy devoid of the much needed capital and forex, hence has urged entrepreneurs to take keen interest in re-investment opportunities within the economy.
“Investment by enterprises both local and foreign has the capacity to enhance national development if it is well directed and structured. Reinvestment by local enterprises or those that are already invested in Zambia is an aspect of development that we must equally embrace and encourage if Zambia is to enhance its competitiveness and further develop,” She said.
And Ministry of Commerce Trade and Industry Permanent Secretary Kayula Siame emphasized on the need for the country to create a positive environment for businesses to thrive and ensure Zambia remains competitive by increasing productivity.
Siame further urged the investors to make use of the national industrial policy as it spells out guidelines for utilization of local primary sources and citizen participation. The Investment Symposium was held under the theme ‘Business Climate for Re-Investment’. The symposium was aimed at providing the private sector with an opportunity to identify re-investment opportunities for diversification and value addition.
Zambia has limited to no exchange controls which has led to capital flight and at times instability in the foreign exchange market due to its free market policies which allows unregulated expatriation of capital and forex.
