• Government in consultation with stakeholders will review mine tax policies.
• Government will increase investment in the mining sector as well as copper production.
• The mining sector has continued to face a number of challenges.
President Hakainde Hichilema says Government will increase investment in the mining sector as well as copper production and other minerals such as gold as the sector is key to economic development.
Speaking when he officially opened the 1st session of the 13th National Assembly, President Hichilema noted that the mining sector has continued to face a number of challenges among them is lack of local participation and enough investment.
“Our administration is determined to ensure increased local participation and ownership in the sector, more jobs being created, as well as increased investments in the mining sector,” President Hichilema said.
The Head of State added that Government in consultation with stakeholders will review mine tax policies that will help in growing the sector.
“To ensure predictable and sustained investment in the sector, government, in consultation with stakeholders, will review the mining tax policy framework. This is aimed at introducing a stable mining tax regime necessary to increase investment in the sector. We will ensure that our people receive their fair share from our mineral wealth. Further, to enhance operations in the sector, government will review the existing institutional framework,” he stated.
He revealed that Government will develop a robust national development action plan for the period 2022 to 2026 that will help the sustainability and restoring of economic growth.
“We want to position the country to be a leading manufacturer of mineral value-added products such as electrical cables and copper-based accessories to meet the growing demand of such products. This will translate into more employment opportunities for our people, especially the youth,” he said
Mr. Hichilema said the sector is poised to contribute more towards restoring economic growth and improving the livelihoods for Zambians.
Meanwhile, President Hichilema assured farmers of reduced agriculture inputs such as Fertilizer for them to produce more food for the country.
“To improve agricultural production and productivity, government will ensure access to affordable agricultural inputs such as fertilizers, chemicals and pesticides. This will be achieved through the re-designing of the farmer input support programme to transform it into a more cost-effective and sustainable intervention,” he said.