Investor flow a plus for Zambia, says Dodia
By BUUMBA CHIMBULU THE interest exhibited by foreign investors to explore investment opportunities in Zambia signifies that the country’s business environment is better than other countries in the Sub-Saharan region, says Private Sector Development Association (PSDA).
PSDA chairperson, Yusuf Dodia, observed that Zambia had lately been receiving a number of foreign investors interested in investing in different sectors of the economy, a sign that signalled conducive and attractiction for doing business
“International rating companies are giving Zambia good ratings and even the ease of doing business, Zambia has improved meaning that for a lot of investors, the environment is very friendly,
“Investors can bring money to Zambia, they can invest and take their money, there are no restrictions and that is very attractive for many investors when they compare Zambia with other countries so from that perspective, I think it is very attractive,” he said.
Mr. Dodia said this in an interview when he was commenting on the 15 Spanish business delegation which are set to hold business to business meetings with the local investors this month in Lusaka.
He, however, cautioned that Zambia should not be complacent, saying a lot more needed to be done if the country was to keep these investors for a long time.
Mr. Dodia observed the need to further ease the cost of doing business as a way of keeping the investors.
“What will keep them to stay in Zambia for a long time is how the business environment is operating, in other words the cost of doing businesses and the policies in supporting private investment. Those are the mechanisms you are going to persuade investors to stay in Zambia for a long time,” he said.
And Mr. Dodia had encouraged local firms to take advantage of such meetings with foreign companies and create linkages.
Mr. Dodia said it was through such meetings that local investors could partner with foreign companies and work together to develop investments in Zambia.
“It is one way for Zambian companies to do capacity building and to be able to transfer knowledge from the Western and Zambian companies so that in future the Zambian companies can have the muscle and capacity to do these contracts on their own,” he said.