Q FM Africa's Modern Radio
The University of Zambia’s Institute of Economic and Social Research (INESOR) has expressed concern at Zambia’s persistent inability to drastically improve its economic competitiveness.
Quoting the recent findings of the 2015 African Competitiveness Report, Senior Research Fellow at INESOR, Dr. Jolly Kamwanga, has observed that in terms of economic competitiveness, Zambia has been ranked 96th out of 144 countries on the 2014-2015 Global Competitiveness Index, which is three places down from 2013 – 2014 Global Competitiveness Index ranking of 93rd out of 148 countries.
Dr. Kamwanga further notes that despite the sustained economic growth the country has registered, the level of economic competitiveness has remained static.
He says the Zambian level of competitiveness is at a preliminary stage, where it is dependent on factor endowments of natural resources and labour.
He adds that achieving higher levels of competitiveness will require improved infrastructure base, better institutions, sound and sustainable macroeconomic policies, and investments in human capital.
Dr. Kamwanga says the findings show that the major constraint for enhancing competitiveness in Zambia is lack of infrastructure and use of obsolete infrastructure where it exists.
He says given the current infrastructure deficit and in order to transform the economy, it is imperative that infrastructure investments are drastically scaled up.
Dr. Kamwanga states that this deficit manifests through unreliable energy sources, expensive and unreliable internet access, and poor transport networks.
He has since urged the Government to provide sufficient regulatory and implementation capacity measures in its institutions in order to facilitate prudent utilization of resources.