China’s unprecedented economic transformation in the last 30 to 40 years is a phenomenon and a source of inspiration for Zambia and other countries, a senior government official has said.
Minister of Finance and National Planning Situmbeko Musokotwane said China’s economic trajectory gives the Zambian government an inspiration to embark on accelerated economic growth.
“This gives us an inspiration to do the same. In the next coming years you will see us focusing a lot on the issue of getting the economy to grow faster because this is the only way to reduce poverty,” he said after receiving a donation of maize from China on Thursday.
The Zambian minister said the opening up of the Chinese economy, as well as the massive investment in human resources and technology, has catapulted China to become the second-largest economy in the world.
“The massive amount of investment that took place in the country and the human capital investment has made China today to be at the cutting edge of science and technology,” he added.
He said Zambia wants to embark on an aggressive opening of its economy for more investment and urged Chinese as well as other foreign investors to take advantage of the opening up.
He said the government was going to put in place more incentives for more private sector investment in order to encourage industrialization as well as put special incentives in special multi-facility economic zones to encourage industrialization. Enditem