An Investment Consultant says Zambia will be economically disadvantaged in the next 10 years if it continues to export raw materials.
Kenny Sinyangwe of Solwezi District says the country should start developing the Multi Facility Economic Zones (MFEZs) into industrial parks and start exporting finished products.
He says it is better to allow investors to set up their industries within the country as opposed to letting them take the raw materials to their countries.
Mr. Sinyangwe says Zambia is not industrializing, which is a challenge and that if the country continues to lose raw material then it will lose completely.
“It’s not sustainable to run a country purely on service and that’s why the taxes are not enough, we need to actually generate income, that’s where the profit is,” he said.
“In the end you’ll be overtaxing and then your industrial base will continue dwindling and that’s why I’m encouraging that Zambia starts developing these MFEZs.”

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