Maravi

Zambia, Finland launch policy framework for investment

Zambia, Finland launch policy framework for investment
By Mutale Kapekele
Sat 22 May 2010, 04:00 CAT

ZAMBIA, with assistance from Finland yesterday launched the policy framework for investment project which is aimed at enhancing investment policy design and implementation.

The project, which will be conducted within the framework of the ‘unlocking investment potential in Southern Africa’ programme, aims to enhance investment policy design and implementation in Zambia and would use the Organisation for Economic Cooperation and Development (OECD)’s Policy Framework for Investment (PFI) as a benchmark to carry out the work.

Speaking at the launch, Finland under secretary of state for policy and development Ritva Koukku-Ronde commended Zambia for consistently strengthening the country’s business climate over the past five years.

“Private investment is a key to achieving sustainable development,” Koukku-Ronde said.

“It plays a crucial role in generating economic growth, job creation and poverty reduction. We commend the Zambian government for consistently strengthening the country’s business climate over the past five years as evidenced by Zambia’s improved ranking on the World Bank’s doing business index.”

She said the use of policy framework for investment offered Zambia a chance to increase the opportunities for attracting investments in the long term.

And commerce minister Felix Mutati said the government would continue working towards making Zambia the investment destination of choice.

Mutati said it was not enough to attract foreign investment to the country but to also be competitive by creating a conducive environment where the private sector thrived.

He said to respond to the need of an integrated approach to boost competiveness, the PFI project would engage “numerous government agencies involved in developing and implementing investment related policies.”

Labels: COBALT, FINLAND, INVESTMENT, OECD

posted by MrK @ 2:53 AM