National Day of Zambia / Robust economy built on stability | The Japan News: the-japan-news/news/article/0000742819 October 24, 2013 Ng’ona Mwelwa Chibesakunda / Ambassador of the Republic of Zambia Oct. 24 marks 49 years of Zambia’s independence. On this occasion, I would like to convey on behalf of the government and people of the Republic of Zambia hearty greetings to the people and government of Japan. I take this opportunity to congratulate the government and people of Japan as well as Tokyo for the successful bid to host the 2020 Olympic Games. Zambia’s economic fortunes have been impressive since the country introduced privatization and liberalized its economy. The government has periodically reviewed the country’s governance and economic policies to align them with current trends in international trade, and also make them attractive to both local and foreign investment. Initiatives such as public-private partnerships are another way the government is encouraging the private sector to participate in developing the country. The government has created a very conducive climate for foreign investors. The country offers tax incentives to further develop an enabling investment and business environment for Zambia’s sustainable economic development. Recently, Zambia’s currency—the kwacha—was rebased to ease doing business transactions. In addition, the government is streamlining business registration, licensing and granting of incentives to create a competitive business environment. Inflation has remained in single digits, recorded at 7.1 percent as at end of August, while lending rates have fallen from an average of 20 percent in 2012 to 16.3 percent as of June. In 2013, Zambia sought to attract foreign direct investment amounting to $3 billion as of June, and approved projects were above target, amounting to $3.56 billion. Zambia’s gross domestic product growth was 6.8 percent in 2011 and 7.3 percent in 2012. This growth was driven by the transport and communications sectors, and the construction of various infrastructure. The government increased investment in infrastructure development from 90 million kwacha in 2011 to 250 million kwacha in 2013. This remarkable development was enabled by political stability. Zambia is renowned as a very peaceful country. Zambia has never experienced war or civil strife. The country has practiced a multiparty participatory political system since 1991, when it instituted a change from the one-party system. Presidential and parliamentary elections are held every five years with each president allowed only two terms in office. Zambia has been governed by five presidents, elected through the ballot box with smooth transitions. Zambia is home to one of the Seven Wonders of the World, the mighty Victoria Falls, known locally as Mosi-oa-tunya, which translates as the “smoke that thunders.” The falls have UNESCO World Heritage status. Zambia’s tourism and arts sector plays a key role in attracting investment and creating employment. The government pays special attention to enhancing tourism product diversification and infrastructure development in the northern circuit, lower Zambezi and the greater Kafue National Park. Zambia actively participates in international affairs, conferences and other forums. The country subscribes to many multilateral organizations such as the United Nations and African Union. It is a very active member of regional groupings such as the Southern African Development Community, Common Market for Eastern and Southern Africa and International Conference on the Great Lakes Region. Zambia enjoys excellent relations with Japan dating back to October 1964—the year Zambia obtained its independence and participated in the first Tokyo Olympic Games. Relations with Japan have been characterized by the two countries sharing standpoints on various matters at both bilateral and multilateral level, in the spirit of mutual benefits. Zambia is a beneficiary of Japanese technical and financial aid. Through TICAD, Japan has been funding various projects in Zambia, the latest of which is the construction of the Kazungula Bridge between Zambia and Botswana. The growth in relations is evident from the high-level visits made by Zambia to Japan. The president of the Republic of Zambia, His Excellency Mr. Michael Chilufya Sata, made an official working visit to Japan in October 2012 and held bilateral talks with the then prime minister of Japan. In 2013, H.E. President Sata again visited Japan to attend the TICAD V summit in Yokohama. During this visit, President Sata held a bilateral meeting with Prime Minister Shinzo Abe. A number of ministers from the government of the Republic of Zambia have visited Japan. This month, Foreign Minister Hon. Wylbur Simuusa visited Japan and held bilateral talks with his counterpart Hon. Fumio Kishida on the sidelines of the Minamata Convention on Mercury. The visits are testimony to the importance Zambia attaches to longstanding relations with Japan. This also is confirmation of the Zambian government’s desire to further strengthen relations and continue working with the people and government of Japan in areas of mutual interest.
Posted on: Thu, 24 Oct 2013 03:35:31 +0000
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