Lungu urges SADC reforms

Republican President Edgar Lungu says there is need for the SADC region to undertake reforms to create the necessary environment that will spur the structural and economic transformation of the private sector.

Speaking during the SADC Extra-ordinary summit on industrialization in Harare, Zimbabwe today, President Lungu says it is time the SADC region set the stage right by putting measures in place that will encourage and support the development of appropriate industries that will in turn transform the primary raw materials into high value finished products.

President Lungu says the immediate task will be to undertake a comprehensive mapping of the region’s diverse resources with the view of identifying where each member state can have the greatest success in capturing high value opportunities for value addition based on their key strengths and capabilities.

He says there is need to witness in the coming year, the creation of backward and forward linkages of the industrial sector to other economic sectors, not only in respective countries,but in the region as a whole through regional value chains that will sustain growth.

President Lungu states that this will enable the region to achieve increased productivity,create employment and ultimately contribute towards reducing poverty.

He says poverty reduction should remain at the centre stage of all activities moving forward.

Mr Lungu adds that the issue of infrastructure development supportive of sustained industrial development and access to investment resources must be addressed decisively as these are critical pre-conditions for industrial take-off.

He notes that having appropriate infrastructure in place is critical for boosting the region’s productive capacities and enhancing global competitiveness in trade with the rest of the world.

President Lungu reminded fellow regional leaders that in seeking to enhance global competiveness,there is need to think regional rather than individual countries.

He noted that the effective implementation of the SADC Industrialisation strategy and roadmap is therefore critical in this regard.

President Lungu said the implementation of the roadmap should be properly sequenced and aligned to ensure that interventions at the regional level are supportive of national programmes and initiatives.