. Sichinga

By MAIMBOLWA MULIKELELA –
THE Government has assured investors of constitutional protection on their investments and pledged to continue implementing business friendly policies.
Commerce, Trade and Industry Minister Bob Sichinga assured local and international investors that Zambia was still a safe and credible investment destination and that political transition should not be a worrying factor.
“The recent national events such as the passing on of the President Michael Sata which has culminated into the holding of January 20, 2015 presidential election should not create a cloud of uncertainty,” Mr Sichinga said.
He said investors had no reason to worry because their investments were protected by the Constitution through the signings of different investment agreements with all investors in the country.
He said in an interview in Lusaka yesterday that investments made in Zambia were protected by the Zambia Development (ZDA) Act of 2006 and could be tempered with regardless of which political party formed government.
In addition, the ministry of Commerce, Trade and Industry had signed Investment Promotion and Protection Agreements (IPPA) with several companies.
“These and among other investment laws protect investors. Like any other country whenever you have elections there is destruction and what is important is to be able to keep tap with what needs to be done and investors don’t have to worry because the constitution protects any investment people make in Zambia,” Mr Sichinga said.
Zambia remained an attractive investment destination because of the various investment opportunities.
“I understand there is hesitance and investors are holding back their investment but I want to reassure everyone that this is not a source of worry for any potential investor.
As the Government, we reiterate that we will manage this transitional period peacefully and uphold the peace that this great nation is renowned for,” he said.
Recently, acting President Guy Scott also assured local and foreign investors of a peaceful transition as the country prepared to usher into a new President.
Dr Scott said Zambia has managed to maintain peace and stability despite having five government transitions and that over the period investments had been secured.
“Succession wrangles happen everywhere when the head of State passes on. As a country we have undergone five transitions but Zambia has remained stable, which is a testimony enough for investors to have confidence in the country,” he said.’