ZAMBIA REGISTERED OVER 12 000 BUSINESS DUE TO THE REGULATORY CHANGES OF DOING BUSINESS

COMMERCE, TRADE AND INDUSTRY MINISTER FELIX MUTATI HAS DISCLOSED THAT ZAMBIA LAST YEAR REGISTERED OVER 12 000 BUSINESS DUE TO THE REGULATORY CHANGES OF DOING BUSINESS IN THE COUNTRY

THE REVISED REGULATORY FLAMES WORKS OF DOING BUSINESS IN THE COUNTRY SUCH AS REDUCTION IN THE COST AND CREATING FRIENDLY ENVIRONMENT HAS HELPED THE COUNTRY TO BE POSITIONED AMONGST THE TOP 10 COUNTRIES WITH IMPROVED ENVIRONMENT OF DOING BUSINESS.

SPEAKING YESTERDAY DURING A PRESS BRIEFING ORGANISED BY THE VISITING INTERNATIONAL FINANCE CORPORATION OF THE WORLD VICE PRESIDENT LARS THUNELL AT WORLD BANK OFFICES IN LUSAKA MR MUTATI STATED THAT THE GREATEST CHALLENGE THAT COUNTRY IS NOE FACED WITH IS ON HOW TO REMAIN ON THE TOP 10 AND IMPROVE MORE ON ITS ECONOMY.

MR MUTATI EXPLAINED THAT GOVERNMENT IS FACED WITH A LOT OF CHALLENGES AND THE GREATEST AMONGST ALL OF THEM IS TRANSLATING THE IMPROVEMENT IN ECONOMY WHICH IS ON MACRO LEVEL TO MICRO LEVEL SO THAT THE BENEFITS ARE FELT BY THE ORDINARY ZAMBIANS WHO ARE SO DOUBTFUL OF VTHE FIGURE GIVEN.

HE SAID THAT THE REDUCTION OF NUMBER OF LICENSES BY 87 AND AMENDEMENT OF THE NECESSARY POLICIES TO DO WITH REDUCE THE COST OF BUSINESS AND MAKING THE ENVIRONMENT MORE FRIENDLY HAS HELPED ZAMBIA ATTAIN THE RECOGNITION FROM INSTITUTIONS SUCH AS THE WORLD BANK AND THE INTERNATIONAL COMMUNITY WHO HAVE COME TO APPRECIATE GOVERNMENTS INTERVENTIONS.

AND MR MUTATI FURTHER DISCLOSED THAT GOVERNMENT LAST YEAR RELEASED ABOUT 240BILLION FOR THE IMPROVEMENT OF KASABA BAY AS ONE WAY TO FOCUS ON INFRASTRUCTURE IMPROVEMENT AND FOCUS OF GOVERNMENT IN THE NEXT ONE YEAR AND BIDDING FOR THE BAY HAS BEGAN WITH A LOT OF INVESTORS WILLING TO INVEST IN THE BAY.

HE ALSO STATED THAT THE GOVERNMENT IS FACING SERIOUS CHALLENGES LIKE HARMONISING THE VARIOUS AGENCIES AT CHIRUNDU ONE STOP BORADER POST WHICH HAS RESULTED IN NOT REAPING THE EXPECTED BENEFITS FROM THE BOARDER BUT GOVERNMENT IS CURRENT LOOKING AT WAYS OF REVERSING THE SITUATION.

THE MINISTER SAID THAT GOVERNMENT WILL NEXT YEAR COMMISSION ANOTHER ONE STOP BOARDER POST AT KASUMBALESA BOARDER WITH THE DEMOCRATIC REPUBLIC OF CONGO WERE TRADE HAS INCREASED AS IT VCAN SEEN FROM LAST YEAR WHER ZAMBIA RECORDED OVER 1.2BILLION KWACHA IN TRADE BUT THIS DOES NOT MEAN IT WILL NEGLECT THE CHIRUNDU BOARDER POST.

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AND VISITING INTERNATIONAL FINANCE CORPORATION OF THE WORLD BANK VICE PRESIDENT LARS THUNELL OBSERVED THAT THE NUMBER OF IMPORTANT REGULATORY CHANGES WHICH ZAMBIA HAS MADE WILL SPUR GROWTH AND ATTRACT MORE INVESTMENT AND IFC WILL CONTINUE TO SUPPORT ZAMBIA’S LONG TERM GROWTH AND FUTURE REFORM EFFORTS.

MR THUNELL STATED THAT IFC WILL ALSO CONTINUE TO SUPPORT THE COUNTRY IN SECTORS LIKE AGRICULTRE, STREGHENING THE PRIVATE SECTOR OF DOING BUSINESS IN THE COUNTRY AND IN DIVERSIFICATION OF THE ECONOMY BEYOND MINING WHICH THE COUNTRY STILL DEPENDS.

HE DISCLOSED THAT IFC IN COLLABORATION WITH THE ZAMBIA NATIONAL COMMERCIAL BANK AND THE ZAMBIA NATIONAL FARMERS UNION THE ORGANISATION EXPECTS TO HELP ABOUT 300FARMERS ACQUIRE LOANS AVERAGING $50 000EACH OVER THYE NEXT THREE YEARS.

MR THUNELL SAID THAT IFC WHICH HAS COMMITTED T ZAMBIA ABOUT $65.5MILLION WILL SEEK TO INCREASE ITS INVESMENT AND ADVISORY PROGRAMMES IN THE COUNTRY WITH A FOCUS ON THE MINING, AGRIBUSINESS, TOURISM, FINANCIAL, ENERGY AND OTHER IMPORTANT SECTORS.

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