Government has said Zambia’s push towards value addition across key sectors is expected to accelerate job creation, industrial growth and strengthen international trade partnerships, especially with China.
Speaking during an interview with Lusaka Star, Minister of Commerce, Trade and Industry Chipoka Mulenga, said that multiple sectors are going to benefit from the this move.
“Any extractive sector and productive sector are likely to benefit from this for instance the Mining sector can’t continue mining copper and exporting it in its raw form, it needs to be processed,” Mulenga said.
He said that the policy shift will transform how the country utilizes its natural and agricultural resources by prioritizing processing over raw export.
He added that progress is already being made, revealing that new investments are creating employment opportunities for citizens.
“Already we have set up five more companies and created more than 7,000 jobs, “he said.
Meanwhile, economist, Gowokani Muchulu said the policy could have economic benefits if effectively implemented.
“It will increase gross domestic product , improve collaboration between countries and the kwacha is likely to appreciate because of increased exports,” Muchulu said.
He added that the value addition will stimulate both local and international trade.