Saturday, October 04, 2008

ZIPPA urges govt to make investment-oriented policies

ZIPPA urges govt to make investment-oriented policies
By Kabanda Chulu
Friday October 03, 2008 [04:00]

ZIPPA chairman Professor Muyunda Mwanalushi has challenged the government to make policies that will result in more investment and economic freedom for the reduction of poverty.

According to the 2008 World Economic Freedom rankings released by the Canada-based Fraser Institute in conjunction with the Zambia Institute of Public Policy Analysis (ZIPPA), Zambia is placed on 51st from the previously 67th position out of 141 countries.

Commenting on the rankings, Prof Mwanalushi yesterday said Zambia’s improvement was encouraging.

“This is a clear sign that Zambia is moving ahead and if we want to create wealth and reduce poverty, we need to have policies that will result in higher growth, more investment and economic freedom,” he said.

Prof Mwanalushi said the 2008 rankings also contained new research showing the influence of economic freedom on poverty reduction.

“Countries with high levels of economic freedom are those in which people enjoy high standards of living and personal freedoms,” said Prof Mwanalushi. “Countries at the bottom of the index face the opposite situation hence their citizens are often stuck in poverty, are governed by totalitarian regimes and have few, if any, individual rights or freedoms.”

The report ranks Hong Kong number one, followed by Singapore then New Zealand. Zimbabwe, once again, has the lowest level of economic freedom among the 141 countries included in the study, followed by Angola and Myanmar.

Canada’s Fraser Institute produces the annual Economic Freedom of the World report, in co-operation with 75 independent institutes, including ZIPPA.

The Fraser Institute uses 42 different measures to create an index for ranking countries around the world, based on policies that encourage economic freedom.

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