Sata targets 7 percent GDP growth

Sata targets 7 percent GDP growth

Sata

PRESIDENT Sata says Government is this year targeting a seven percent growth in the economy, which he is confident shall be attained.
The President also wants the country to maintain a single digit year-end inflation.
President Sata has also said his economic managers will ensure Government borrowing is managed and the exchange rate remains stable while investment must increase.
He was speaking here yesterday when he addressed business executives during the Zambia Business Forum in the South-South media boardroom.
Mr Sata said Government will continue passing laws that are business-friendly in order to accelerate economic growth.
He promised incentives for investors opting for rural and remote areas, as well as those that partner with local entrepreneurs.
President Sata wants to see the cost of doing business in Zambia reduced.
Infrastructure such as roads, railway, airports, border facilities and power stations to support trade and investment are a priority area for Government to invest in.
The World Bank ranks Zambia among the top 10 fastest growing global economies in the world in its 2011-2015 projection.
According to the 2011 world business survey, Zambia is also one of the top investment leaders, having attracted massive investments in mining and tourism sectors and most recently the US$750 million Eurobond.
President Sata said Government will remain committed to ensuring Zambia remains one of the most attractive places in the world to invest and do business in.
“Zambia’s central location offers a gateway to Southern African Development Community and the Common Market for Eastern and Southern Africa trade blocs, making it ideal to export to the regional market. Zambia also has easy access to the sea ports of Durban in South Africa, Dar es Salaam in Tanzania and Walvis bay in Namibia,” Mr Sata said.
The President also acknowledged the warm and cordial bilateral and trade relations Zambia has with the United States.
He renewed his invitation to international visitors to attend the United Nations World Tourism Organisation (UNWTO) General Assembly to be co-hosted by Zambia and Zimbabwe next year.
“It is my pleasure, therefore, to invite business executives and captains of industries here to take advantage of the general assembly and invest in tourism in Zambia,” Mr Sata said.
Meanwhile, Mr Sata has invited American investors to invest in Zambia as “we are ready to enter into agreements with American investors. We have a lot of opportunities in the mining and other sectors of the economy which need to be utilised”.
The President said Zambia is a very peaceful country and that the government is committed to reducing interest rates and the cost of doing business in Zambia.
Mr Sata said interest rates will continue to go down for the country to record investment in key sectors such as transport and communication.
The President also took time to answer questions from investors, whom he assured that Government will facilitate visa requirements for them.
“It will be easy for you (investors) to access visas upon arrival in Zambia. My Minister of Home Affairs [Edgar Lungu] is working on something to address that,” Mr Sata said.
And speaking earlier, American investor Mike Lorenzo said Zambia is a stable country with a lot of potential in business.
He said the country has recorded economic growth in the past few years.

DAILY MAIL

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