Govt urged to review Zambia’s foriegn investment policy

United Prosperous and Peaceful Zambia (UPPZ) leader, Charles Chanda, has called on government to review some of the policies around foreign investment and business conduct in the country.

Chanda said it was important to note that certain businesses should be exclusively reserved for Zambians, while noting that foreign investments are crucial for the growth and development of any economy.

According to a statement issued in Lusaka on Sunday, UPPZ leader said this was for the sake of promoting Zambia’s Gross Domestic Product (GDP) and ensuring that Zambiams are not disadvantaged.

“In this regard, I urge the government to prioritize the block-making industry as one that should solely be reserved for Zambians,” he said.

Chanda noted that the block-making industry is an important sector of the economy and has the potential to create countless jobs and uplift lives within the local communities.

“Allow me to illustrate this matter by sharing the story of Tembo, a hardworking woman and mother of four, living in Bauleni Compound, Lusaka,” he said.

He explained that Tembo had been operating a small block-making business for over six years.

Chanda said Tembo had managed to sustain her family’s livelihood solely through this business with the help of her children, who assist her in the process of block-making after school hours.

“Sadly, due to the influx of foreign entrepreneurs who have taken over the local market, Tembo has seen a decline in the business, leading to financial difficulties for her family,” he said.

Chanda said this was just one example of how small businesses and their owners suffer at the hands of foreign business owners.

He called on government to adopt policies that would prioritize the empowerment of local entrepreneurs like Tembo, as a way of promoting inclusive and sustainable economic development.

“As UPPZ, we stand for economic prosperity, peace, and unity for all Zambians. We believe that by adopting pro-local entrepreneurship policies, we can create jobs, grow our economy, and uplift the lives of our people,” Chanda said.

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