By Staff Reporter
The Zambia Development Agency (ZDA) will this year host an Investors Symposium to champion an integrated approach towards investment promotion and facilitation.
The Investor Symposium will be held under the theme ‘Business Climate for Re-Investment’.
ZDA Manager for Communications and Public Relations Faith Musonda stated that the symposium would provide the private sector with an opportunity to identify re-investment opportunities for diversification and value addition.
She added that the symposium would create a platform for private sector actors, regulatory agencies and policymakers to exchange knowledge and articulate commitments to improve the investment climate in Zambia.
And ZDA Acting Director General Matongo Matamwandi expressed confidence that the symposium would yield positive results for the country.
“It is further anticipated that this platform will provide an opportunity for feedback from both government and private sector on the impact of policies with possible recommendations that may assist in creating a much more conducive business environment for private sector growth,” elaborated Matamwandi.
Matamwandi further revealed that from January to June 2019, ZDA approved investment licenses worth US$ 5.2 billion with US$2.4 billion recorded under the re-investment licenses.
“ Previous expenditure patterns have proved to be cheaper for the Agency to retain existing investors rather than to attract new investments around the world. This justifies the re-focused approach of promoting re-investments as per the ZDA 2018-2021 Strategic Plan,” he said.
The Agency has observed that those investors not re-investing were instead repatriating their profits leaving the local economy devoid of the much-needed capital.