Thursday, 31 March 2011


President Rupiah Banda opened the seventh Zambia International Business Advisory Council (ZIBAC) in Livingstone on Thursday, with call for job creation for the country’s young generation.
President Banda said: “Building on our success to date, I am committed to working with the private sector to create quality jobs for our people and to support start–up companies in Zambia. It is imperative that we provide opportunities for our young people to enable them to participate in growing our nation and its standing on the world stage.”

The meeting, which was attended by key investors and international advisors, focused on investment for jobs and wealth creation, highlighting the government’s determination attract quality investment into the country.

In his address to the Council, the President reflected on Zambia’s steady economic growth which he said had helped to create a favourable investment climate.  He cited Zambia’s current recognition as one of the top reformers in the world, Zambia’s overall ease of doing business ranking raised to 76th place out of 183 countries and licensing reforms that have simplified business, resulting in total savings for the private sector estimated at K145.3 billion as some of the country’s achievements.
President told the delegates to the Council that in 2010, the country attracted investments worth US$2 billion with 18,000 new businesses being registered and that Zambia was awarded a B+ sovereign credit ratings by both Fitch and Standard & Poors.
President Banda, however, noted that there was a challenge to translate investment into jobs and wealth creation for all Zambians.
ZIBAC follows the recent launch of the Sixth National Development Plan, where President Banda highlighted his commitment to job creation in key sectors including agriculture, manufacturing, tourism and mining.

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