Siamunene: New Bank of Zambia Bill Will Benefit The Country

Commerce, Trade and Industry deputy Minister Richwell Siamunene says the implementation of the new Bank of Zambia Bill will benefit the country by boosting the economy.

Speaking to QFM News Mr Siamunena says the implementation of the Bill will enable the government to get a fair share from all the transactions carried out which in turn will be channeled to developmental projects such as infrastructure development, agriculture and tourism among many others, thereby reducing the dependency on copper.

Mr Siamunena states that the move will also lead to rural investment and job creation, thereby resulting in the increase in the rural Gross Domestic Product (GDP).

He says this will reduce rural urban migration, while at the same time triggering urban rural migration which will in turn decongest Lusaka and the copperbelt province.

He says the new Bank of Zambia Bill will also help Zambia get correct figures of how much profit is gotten from mineral exports as it will monitor the flow of exports and imports.

Mr Siamunena states the move will further force investors to go and invest in rural areas.

Posted by Editor on April 14, 2013. Filed under BUSINESS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry