Business reforms vital for economic growth

–Government is in the process of carrying out business reforms in the country, Commerce Minister Emmanuel Chenda, has disclosed.

Mr. Chenda said in a speech read for him by Commerce, Trade and Industry Permanent Secretary Stephen Mwansa that business reforms will help grow the economy of the country and create job opportunities.

He was speaking last evening during the Network of Reformers of Eastern and Southern Africa dinner in Lusaka.

He said business reforms were cardinal in quickening the manner of doing business in the country.

Mr. Chenda however complained that currently, there were many licenses that one should acquire before setting up a business.

He explained that part of the business reforms government will carry out was to reduce the number of licenses needed for one to start up a business.

He said some processes of setting up a business were very cumbersome hence hindering the growth of the private sector in Zambia.

The Minister said government would ensure that cumbersome procedures that impede the growth of the private sector were addressed.

Mr. Chenda has since implored African countries to initiate business reforms that will allow them to positively contribute to the global economy.

And speaking earlier at the same function, Head of the Network of Reformers of Eastern and Southern Africa, Peter Ladegaard, challenged African countries to remove red tape that hinders countries from trading among themselves.

Mr. Ladegaard has since expressed optimism that once the red tape was removed, African country will be able to grow their economies through enhanced trade.