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Government has warned that it will not tolerate the private sector frustrating its efforts to attract investments and that it will double its energies to combat red-tape in all sectors of the economy.
Finance and National Development Minister, Situmbeko Musokotwane, who sounded the warning emphasised that government would not tolerate any private sector fighting its efforts in attracting investments in all sectors of the economy.
Musokotwane warned that government would therefore double its efforts in combating red-tape in all sectors of the economy which was discouraging investment.
“Those frustrating efforts in the private sector will not be tolerated. Government will double its efforts in combating red-tape in all sectors of the economy.
“Delaying investment is delaying jobs so if you do the opposite just know that you are shooting yourself in the foot,” he said on Tuesday in Lusaka at the 2023 first quarter Budget and Economic Performance.
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Musokotwane also said a Zambian delegation would soon travel to Brazil to engage with suitable investors for production of maize.
He explained that the investors to be engaged would be carefully selected on the basis of capabilities to produce on a large quantity.
“Producing in large quantities and output will help us meet the deficit of food and will enable Zambia be self-sufficient in food,” Musokotwane said.
The minister also commented on the recently launched US$600 million fertiliser plant, which he said would assist Zambia to be self-sufficient in basal fertiliser.
In the next few years, he said, Zambia would become an exporter of fertiliser to the region.
At the same function, Economic Association of Zambia (EAZ) president, Isaac Ngoma, emphasised the need for government to bring the private sector on board in developing the economy.
Ngoma said the private sector was critical in expanding economic activities.
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