Q FM Africa's Modern Radio
President Edgar Lungu says it is shameful that some politicians and commentators have dismissed the recovery of the Kwacha and drop in the inflation as a political gimmick which will not last
Speaking when he officially opened the sixth Zambia International Investment Forum in Lusaka today, President Lungu says no leader seeking prosperity for the masses must always programme their mind to expect negative trends in the economy.
President Lungu says no one must take pride in national failure as an opportunity to gain political success.
He has since assured the nation and investors that his administration has the full confidence in the leadership of the Bank of Zambia which is why they allow them the necessary autonomy to execute monetary policy as professionally as they can.
President Lungu says the central bank’s measured response during turbulent times of the Kwacha is now paying off.
He adds that the synergy between officials handling fiscal and monetary policy gives him even greater confidence that the country is on a recovery path.
President Lungu states that this is evident from the increased investor interest in government securities and renewed confidence in the mining industry.
And President Lungu has called on investors to partner with government in developing infrastructure such as roads,rails,hydro power stations,tourism infrastructure and others in public private partnership arrangements.
He says in order to achieve meaningful sustained development; the right infrastructure must be in place.
President Lungu has since urged investors to take advantage of the favourable investment climate and invest in Zambia.
Meanwhile President Edgar Lungu has urged the international community to harness Zambia’s investment potential and increase investment in the country.
The Head of State made this appeal when he received letters of credence from High Commissioners and Ambassadors accredited to Zambia from the United Kingdom, Djibouti, Guinea and Venezuela.
President Lungu says Zambia boasts of a conducive environment for doing business with numerous investment opportunities in priority areas of Agriculture, Tourism, Manufacturing, Energy, Mining and Water Development and other development sectors.
He adds Zambia attaches great importance to her relations with other countries, which are based on a firm foundation of mutual trust and respect.
President Lungu adds that government appreciates these relations which have played a role in positively impacting on the lives of the Zambian people.
Those who presented their letters of credence are UK High Commissioner to Zambia Fergus Obe, Djibouti Ambassador to Zambia Mariam Goumaneh, Guinea Ambassador to Zambia Djigui Camara and Venezuela’s Ambassador to Zambia Lourdes Martinez.