By: Melinda BandaEconomist Munyumba Mutwale believes Zambia’s manufacturing industry has the potential to strengthen the country’s economic systems through the creation of more locally owned manufacturing companies. Mutwale explained that establishing more local firms would increase the availability of Zambian products and services within chain stores, while supporting other sectors. He noted that this growth could help Zambia transition into a service-driven economy, with expertise in healthcare, education, and finance, all fuelled by consumer demand originating from the manufacturing sector.
He emphasized the importance of a stable and reliable energy sector to sustain production and ensure the availability of local goods for the market. Mutwale further highlighted that the economy has improved significantly due to policies encouraging localization, including initiatives such as Buy Zambia. He stressed the need to build strong local chains of products and services to enhance competitiveness and reduce dependence on imports.#SunFmTvNews
Read Full Article on Zambian Observer
