By Rick Nchito
Former deputy minister in the Michael Sata administration Panji Kaunda says it is wishful thinking for Zambians to expect any investment from the United Arab Emirates (UAE) where President Edgar Lungu is.
And Kaunda says the nation’s entire system is broken down posing a serious danger to the country’s development plan.
Kaunda who was Defence deputy minister, Transport Works, Supply and Communication deputy and Home Affairs deputy minister said it would have been better for the Head of State not to have had travelled at all.
“In the midst of austerity measures, you don’t expect the President to undertake such trips which we all know won’t bring any investment here,” said Kaunda.
“It is wishful thinking for Zambians to expect any investment to come from Abu Dhabi especially with the nation’s current economic uncertainties.”
Kaunda further mocked President Lungu that he will only come back home with pictures and not any investment that answers to the nation’s current challenges.
“So like I have already stated, there is no investment which will come from Abu Dhabi. The President just went there for photo shooting and nothing else. Only photos will come from there,” he said.
“Where is the cheap fuel from Saudi Arabia which government had promised Zambians? Where is that goat business which Zambians were made to believe was real? Where are those jobs our youths were promised to undertake in Saudi Arabia? So you can see when I say there is nothing that will come from there.”
And Kaunda said it is very difficult to attract investment to Zambia at the moment because of a number of factors.
“If you look at our economic environment, it is extremely difficult to attract serious investment from serious people. The weak Kwacha, a nasty power deficit and our inconsistence in many policy measures are some of the things which just discourages investors from coming to Zambia,” he said.
“But above all, it is our broken systems which completely puts off investors.”