By 
Government must expedite creation of a policy and legal framework that will push for development, mentorship of Micro, Small and Medium Enterprises (SMEs) with limited access technology and finance.
This will address the constraints that impede enterprise growth, while facilitating for the formalisation of SMEs who have remained largely informal with limited access to skills development, technology and finance.
This is according to the Policy Monitoring and Research Centre (PMRC) Executive Director Sydney Mwamba.
Mwamba said it remained critical that the Ministry of Small and Medium Enterprises, with support from partners expedited the creation of a policy and legal framework that would push for development for the SMEs.
He stressed that technological advancements played a key role in enhancing productivity.
When coupled with the relevant skill set, he said, the labour market could generate superior goods and services that drive the growth of the economy.
“Additionally, the country’s low levels of productivity require educational reforms from primary to higher learning institutions in order to harness the appropriate technologies and skills that meet market demands.
“Although technological advancements present a variety of opportunities for green growth, creating safe workspaces is key for increased productivity,” he said in a message to celebrate labour day which took place on Monday.
Read more: Initiative to drive informal economy, promote SMEs through digitization launched
Mwamba stated that the promotion of value addition for both forward and backward linkages was crucial for the development of MSMEs across industry, as they had the largest capacity for innovation and job creation.
He pointed out that enhancing job creation opportunities required government and private sector efforts to create jobs.
Mwamba said the promotion of value addition for both forward and backward linkages was crucial for the development of MSMEs across industry, as they had the largest capacity for innovation and job creation.
“It is acknowledged that government cannot create the much-needed jobs for all citizens, but they have the greater mandate to provide an enabling environment that supports private sector driven economic transformation to generate job opportunities.
“This is through the implementation of stable and consistent policies and tax options that do not stifle the growth of the private sector. Innovation and value addition are the basis for greenfield investment in all sectors earmarked for job creation,” Mwamba said.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments