Saturday, May 04, 2013

Authors of economics book call for industrial growth
By Henry Sinyangwe
Thu 02 May 2013, 14:00 CAT

COMMENT - This is from Mohammed Yunus' outfit. I don't know what to make of it. As a bank, I've never seen how his Grameen Bank makes money. I have the book, and I have decades of background in trading stocks and ETFs, but I don't get it. Here is an explanation of their concept on their website.

BROADENING the industrial base and encouraging medium-sized manufacturing industries will earn Zambia a medium-income status, it has been observed.

John Sutton and Gillian Langmead, co-authors of a book titled An Enterprise Map of Zambia' have observed that a 10-year plan was needed to raise the living standards of Zambians.

The book has been published by the International Growth Centre, a policy research institute coordinated by the London School of Economics and Oxford University in the UK.

Speaking during the launch of the book in Lusaka on Tuesday, Prof Sutton said qualitative change is needed over the next ten years to broaden the industrial base and bring the country to middle-income status.

He said Zambia's manufacturing base had doubled in the last decade, and the country's economy was among the most rapidly growing in sub-Saharan Africa.

"Understanding what is needed to maintain this growth is crucial to the formulation of good policies. And this in turn requires a deep understanding of Zambia's current industrial capabilities," Prof Sutton explained.

He said countries that had made the advance into middle ground manufacturing had faced major challenges with regard to quality standards.

"The most powerful driver of this advance is appropriate foreign direct investment (FDI), which involves companies operating in new industrial activities and bringing new capabilities, and creating new jobs," Prof Sutton said.

[Prof. Sutton is full of sh*t, like most economists. They know their discipline, they don't know agriculture, history, politics, etc. - all the points of contact with reality outside of the field of economics. - MrK]

He praised the work of the Zambia Development Agency (ZDA) and emphasised the need for expansion of domestic companies into new areas of activities, as well as maintenance of a good business climate for all firms, whether domestic or foreign.

"This is a turning point for Zambia's economy, and getting the right policies and rules, and ensuring these policies and rules are implemented and enforced, is crucial to the country's future," said Prof Sutton.

And commerce permanent secretary Stephen Mwansa said the government is committed to raising the living standards of Zambians.

He said there should be an industrial data base that provides information on available trade and investment.

Mwansa said Zambia aspired to be a strong and dynamic middle income industrial nation that provided opportunities for all.

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