EPCCI seeks INDECO guidelines

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Lusaka, Zambia: Findeco, Zanaco and Indeco houses - Cairo Road skyscrapers seen from the Sapele Avenue side - Central Business District - photo by M.Torres
Lusaka, Zambia: Findeco, Zanaco and Indeco houses - Cairo Road skyscrapers seen from the Sapele Avenue side - Central Business District - photo by M.Torres

The Eastern Province Chamber of Commerce and Industry (EPCCI) has advised government to provide clear guidelines on how the re-introduction of the Industrial Development Corporation (INDECO) will co-exist with the private sector.

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EPCCI Chairperson Thomas Mtonga says the guidelines should state how INDECO will operate and compete with the private sector as the country has seen massive economic growth with the coming of the private sector on board.

Speaking in an interview with ZANIS in Chipata today, Mr. Mtonga said in the past, government created INDECO as a way of stimulating economic development for the country.

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He explained that after the collapse of parastatal companies that were established through INDECO the private sector has been thriving and making significant contributions to the economic growth of the country.

He said it was for this reason that government should clarify how it intends to revive the companies that failed to perform under INDECO.

Mr. Mtonga disclosed that in Eastern province there companies like Luangwa bicycles manufacturing plant, Zambia Pork Products and LINTICO among others that have already been taken up by the private sector.

He added that this was why there is need for government to give an explanation on how the private sector that is supported by the liberalization of the economy will compete with the companies that will be established under INDECO.

 Mr. Mtonga noted that what government needs to do is concentrate more on the establishing of industrial clusters and improving infrastructure development which was key in economic development.

He stated that Eastern province which is an agriculture dominated area has potential to benefit more from industrial clusters compared to the intended re- introduction of INDECO.

President Michael Sata during his New Year address to the nation announced that government in 2014 will re-introduce INDECO to facilitate the creation of jobs in the country.

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