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Debt restructuring to benefit the local Zambians as MCTI seeks partnership with China

Filed under: Business,Latest News |

…. debt restructuring achievement process will give government more fiscal space and the ability to focus on actualizing investment and Trade

Minister of Commerce, Chipoka Mulenga, says the debt restructuring achievement process will give the Government more fiscal space and the ability to focus on actualizing investment and Trade, which he said are key drivers to sustainable economic development.

He said the debt restructuring milestone would also see more Zambians get involved in the country’s growth because the money that was supposed to be used to settle the debt would now be channeled to other sectors that directly impact businesses and enhance the country’s development.

Mulenga spoke in Addis Ababa, Ethiopia, before transiting to China, where he will attend the China Africa Economic Forum.

He said in line with the Presidential pronouncement on the importance of Private Sector partnerships in economic development, the Minister said he was being accompanied to the forum in China by eighteen Zambian companies involved in various sectors, including mining, gemstones, timber, and fishing, among others.

Mulenga said Zambia was ready to learn good practices in Commerce and Industry from technologically advanced countries like China.

The Minister said Zambia was ready to forge partnerships following the rising investor confidence in Zambia due to several positive economic indicators, including the debt restructuring milestone that has been achieved with the support of the creditors.

He said no country in the world has ever developed without the involvement of its citizens through partnerships hence his call on Zambians to ensure that they get involved, especially in value addition, if the country is to grow faster.

This is contained in a statement issued by Issued by Inutu Mupango Mwanza, First Secretary for Press and Tourism in Addis Ababa.


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