Zambia has the capacity to overcome the current economic challenges to unfold her great economic strengthen German Foreign Affairs Minister Frank Walter has said.
“Dear friends, Zambia has the potential to unfold her great economic strengths. Despite the current economic challenges, we can see potential because it offers an interesting market and various opportunities,” he said.
Dr Walter who arrived in the country on Friday with a business delegation said Germany was ready to offer Zambia a helping hand in these difficult and challenging economic times.
He was speaking at a business round table meeting in Lusaka on Friday evening. Dr Walter said the delegation’s visit during Zambia difficult economic times was a demonstration of Germany’s honest interest in expanding business in Zambia. He however said transparency and reliable business environment was all German businessesmen as they kept their promises when they invested in a country.
Dr Walter said German businessmen kept their promises during difficult and good times instead of pulling out their investment.
“We prefer real growth over quick profit. We stick to our business promise instead of pulling out investment when things are bad. We need transparency and a reliable legal and corruption free environment for our investments,” Dr Walter said.
Meanwhile, representing Government, Local Government Minister Steven Kapyongo said Zambia needed all weather friends.
Mr Kapyongo said there was need to invest in water and sanitation projects. He explained that Zambia had limited water to supply to major cities.
“We import huge quantities of chemicals to treat water and we are experiencing water supply challenges to our major areas,” Mr Kapyongo said. He said Government was doing its part to ensure that citizens benefited from the mutual relations between the two countries.
“There are a lot more opportunities for countries to cooperate in. This country requires more capacity in projects. Some of the areas we need investment in is the water supply and sanitation sector,” he said. Mr Kampyongo said Government was ready to provide necessary environment for private investment. And Zambia Development Agency (ZDA) director general Patrick Chisanga said the best time for investment was during economic challenges because that showed the investors’ confidence in the economy. Mr Chisanga said it was interesting that German businessmen decided to visit Zambia when the economies worldwide were experiencing challenges.
“This is what strengthens us, challenges strengthen us. Rather than focus on what has happened in Zambia’s economy, look at the potential the country has,” he said.