More is required for Zambia to become an independent economy – Scott

Guy Lindsay Scott
Guy Lindsay Scott

Republican vice president Guy Scott says much more work is required for Zambia to attain the necessary economic growth to enable it become a fully employment and independent economy.

Dr. Scott has observed that this is despite the country’s achievements in the past 50 years that it has been independent from colonial rule.

Dr. Scott says this is because while the country has been recording a 5.5 percent annual economic growth since 1991, the reality is that such economic growth is yet to be felt by the majority people in country owing to the fact that poverty and unemployment still remain widespread.

He says it is for this reason why the Patriotic Front (PF) government is mindful of what it is was elected for of rebuilding the country’s economy and rehabilitating and constructing the country’s infrastructure, creating wealth and ultimately to restoring the pride and dignity of the Zambian people.

Dr. Scot says to this end in order to address the overriding challenge of job and wealth creation, the PF government is developing a national strategy on industrialization and job creation whose center piece is value addition in the growth sectors of Agriculture, Construction, Manufacturing and Tourism.

The vice president was speaking this afternoon when he officiated at this year’s Zambia International Trade Fair (ZITF) in Ndola under theme: ‘showcasing 50 years of business transformation and development,’ which has attracted 380 local exhibitors and 64 foreign exhibitors.

And Dr. Scott has cautioned that economic development also needs concerted efforts from all stakeholders which he says implies that local government complementing the central government by putting in place strategies of attracting investments in their localities.

He adds that while government provides the overall policy framework, the private sector still remains the vehicle for economic development.

Speaking at the same event Commerce Trade and Industry Minister Robert Sichinga noted the need to transform the entire trade fair set up and estate into an all year round exhibition center.

Mr. Sichinga has also warned against any illegal acquisition of the trade fair land as any illegal acquisitions this land will have to be either compensated or the properties build upon it to be forfeited.

Earlier ZIFT board chairperson Emmanuel Hachipuka also noted the need to transform the trade fair ground into a platform for promoting of products by the local Manufacturing, Tourism, Agriculture and Construction industries to gauge how the various sectors have reach in terms of quality and standards.

Qfm News Zambia