Govt determined to accelerate development

Government says it is determined to put in place both hard and soft infrastructure required for accelerated development.

Speaking during the launch of the Patents and Companies Registration Agency (PACRA) online registration system in Lusaka today, Commerce, Trade and Industry Minister Margret Mwanakatwe says while developing road, power, telecommunications and other key infrastructure, government is mindful of the need to create platforms to facilitate business.

Ms. Mwanakatwe says government will continue with reforms to create an environment for business to thrive as well as create a favorable investment climate.

She states that the policy of the PF government is to create a level playing field for both local and foreign businesses.

Ms. Mwanakatwe explains that with the online registration system, the cost associated with registering a business had been substantially reduced, adding that the online system will also enhance service delivery by PACRA.

Ms. Mwanakatwe further revealed that progress has also been made in the review of the companies Act and drafting of an insolvency bill which amongst other things seeks to provide relief for financially troubled companies.

And speaking earlier, PACRA Registrar and Chief Executive Officer Anthony Bwembya explained that with the online system, the entire registration process can be done electronically.

He says it is now possible for anyone to verify the registration status of a business or its compliance with the requirement to file annual returns at no cost.

Mr. Bwembya adds that the system is also equipped with features that enable the agency to process information as may be required by its clients and other government agencies.