ZDA works on investement targeting
THE Zambia Development Agency (ZDA) will put in place measures to mitigate negative sentiments and foster investment in all sectors of the economy.
ZDA Director General, Matongo Matamwandi, said his organisation would enhance pull factors which encouraged investment and re-investment in the country.
He was speaking in a speech read by ZDA Director Policy and Planning, Cosam Ngoma, at the 2019 dissemination workshop of the Foreign Private Investment and Investor Perceptions Survey Results in Lusaka.
“We will do so by enhancing our investment targeting strategy, encourage public-private dialogue and lobby of reform changes so as to foster a conducive business and investment climate,” Mr Matamwandi said.
He said ZDA would enhance both public and private investment towards inclusive growth as espoused in Zambia’s Seventh National Development Plan (7NDP) and the vision 2030.
The results for the 2019 survey, Mr Matamwandi said, had given ZDA an opportunity to learn more on the pull factors that fostered investment and ment in Zambia.
Mr Matamwandi cited market potential, ease of doing business, stable macro-economic environment and good governance among others to be among the pull factors encouraging investment in Zambia.
“The survey has also given us an opportunity to know on factors that may hinder investment and re-investment in Zambia, such a lending interest rates, exchange rate management, inflation rate cost-related factors like fuel and electricity costs among others,” he said.
Mr Matamwandi said it was gratifying that most industry players were optimistic on the growth and investment prospects of their companies. He said the top four expansion strategies that companies envisioned to employ were value addition, expansion of the existing facility, acquisition of machinery and equipment and diversification.
“These strategies resonate well with the different policy and strategies that the government has put in place to creating a conducive business and investment environment for the private sector to strive,” Mr Matamwandi said. re-invest