State keen to increase FDI inflows

By BUUMBA CHIMBULU in Nakonde GOVERNMENT is determined to increase foreign direct investment (FDI) inflows through building international gross reserves to four months of import cover by 2021 from the current three months, says Minister of National Development Planning Alexander Chiteme.

Mr. Chiteme said Government was determined to increase FDI inflows as well as improving the international gross reserves by 2021 as they were among the effective ways of increasing the State’s coffers.

He was speaking in an interview in Nakonde.

He said Government was aware of the need to enhance trade facilitation which would link Zambia’s linkages to external markets for the development, thereby succeeding in increasing FDI inflows and international gross reserve ratios.

“Maintaining an open economy with a competitive and market driven foreign exchange rate regime will remain Government policy. The emphasis will be to promote a diversified export base with more focus on non-extractive sectors such as agriculture, forestry and energy, as well as to increase FDI inflows and build up international gross reserves to at least four months of import cover,” Mr Chiteme said.

Mr. Chiteme also said maintaining a market determined and competitive stable exchange rate of the local currency would be sustained.

Meanwhile, Mr. Chiteme said Government was currently developing a Government-wide management and evaluation framework which was premised on the principles of results-based.

“This will entail that all actors contributing directly or indirectly to achieving a set of results ensures that their processes, products and services contribute to the achievement of desired results which impact positively on the majority of Zambians,” Mr. Chiteme said.