By Scoop Reporter

THE Zambia Development Agency (ZDA) says it regrets the incidents that have occurred in recent days in which lives have been lost as well as reports where Zambian workers are said to have been subjected to harsh conditions of service.

ZDA board chairperson Fisho Mwale has today assured investors and businesses in general that their investments are safe and protected by the governing law of the land.

Mr. Mwale says as an Agency, ZDA understands the important role investors play in sustainably enhancing economic growth, wealth creation and job creation for the people of Zambia as well as the need to adhere to the laws that govern how businesses are to be run.

He says Zambia needs foreign direct investment (FDI) as it is a conduit of transferring foreign capital investment abroad and directly contributes to expanding investment and tax base in the country and is key in addressing the problem of unemployment through the creation of new job opportunities and the introduction of advanced technology.

He says it is pertinent to recognize that the peace, rule of law and the political will that the country enjoys is one of the major attributes that makes Zambia the best investment destination of choice in the sub region and therefore it is important that we recognize the need to preserve it at all cost.

“Zambia is enjoying very cordial and warm relations with most countries and as such has attracted major investments from those countries in keys sectors of the economy.

“I wish to state that in view of this, it has become imperative that as a country we need to manage our due process in a the dispensation of the law, without jeopardising our good standing with the investor community, that the people of Zambia have worked so hard to build, but in the same vein we call upon all investors to adhere to the laws obtaining in this country for the mutual benefit of all parties involved,” Mr. Mwale said.

He says if in doubt, all businesses operating in Zambia must engage relevant authorities to further orient themselves with applicable laws and policies.

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