Maravi

Levy seeks to eliminate red tape in business

Levy seeks to eliminate red tape in business
By Fridah Zinyama
Thursday October 18, 2007 [04:00]

President Levy Mwanawasa has said that administrative barriers to doing business in Zambia should be eliminated. Officiating at the business luncheon hosted by the Institute of Directors of Zambia (IOD) at Pamodzi Hotel yesterday, President Mwanawasa said allocation of resources to competing priorities of development should be cost effective and efficient and stakeholders should embrace sound corporate governance as a way of doing business.

“To this end, government will continue to conform to sound corporate governance systems to ensure the country’s development,” he said. “We will also continuously review our governance provisions so that we can serve our people better.

President Mwanawasa said the government was committed to ensuring that the war against corruption was won and ensures that good corporate governance became the way of doing business in Zambia.

“A lot of this is already provided for by way of specific provisions in the constitution, the laws and even through internal government rules and regulations,” he said.

President Mwanawasa noted that most governments had realised the important role that corporate governance played in making their countries attractive destinations of investment.

“Corruption and good corporate governance have progressively become global conditionality for investment flows,” he said. “All our multilateral development cooperating partners and friendly foreign governments insist on good governance and zero tolerance to corruption as a condition for our cooperation with them.”

And President Mwanawasa said the government’s good governance practices had significantly contributed to the economic growth of the country.
He said the government could not afford to be complacent with the provisions on corporate governance.

“Government’s good examples of corporate governance are the fight against corruption and the prudent use of taxpayers’ money,” he said. “I can state with confidence that a lot of progress has been made and the plunder of natural resources and abuse of public property with impunity is no longer easy without the perpetrators being visited by the law.”

President Mwanawasa said abuse of office was no longer commonplace.

“I admit that the vice has not been wiped out, but my government has continued to double its efforts to contain the situation,” he said. “The fight against corruption can only be accomplished with the help of all stakeholders.”

President Mwanawasa challenged other stakeholders to join the government in the fight against corruption as most corrupt practices related to businesses and economic related transactions.

“Government officials cannot corrupt themselves, but are assisted by business people,” he said. “Government alone cannot therefore fight and win the war against corruption in our country. The Institute of Directors of Zambia and its members must join hands with the government in combating this vice.”

President Mwanawasa said the institute had a duty to translate its noble objectives into a concrete programme of action.

“And all government officials should therefore embrace the concept of good corporate governance best practices,” he said.

President Mwanawasa added that the quest to improve corporate governance could be addressed if both the supply and demand aspects of corruption were tackled.
“Adherence to the rule of law should be assured and there should be fair competition and efficiency among organisations,” he said.

Labels: ECONOMIC EMPOWERMENT, ECONOMY, IOD, MWANAWASA, RED TAPE

posted by MrK @ 3:51 AM