News / USA

    US Secretary of State Calls for More US Investment in Zambia

    US Secretary of State Hillary Clinton talks with Zambia's President Rupiah Banda during her visit to the newly opened University Teaching Hospital Pediatric Centre of Excellence, in Lusaka, Zambia, June 11, 2011
    US Secretary of State Hillary Clinton talks with Zambia's President Rupiah Banda during her visit to the newly opened University Teaching Hospital Pediatric Centre of Excellence, in Lusaka, Zambia, June 11, 2011

    U.S. Secretary of State Hillary Clinton is calling for more American investment in Zambia. Secretary Clinton met with U.S. and Zambian business leaders.

    Secretary Clinton says 11 consecutive years of economic growth indicates that Zambia is doing what is necessary to attract foreign investment.

    “Business can't do it without a supportive government policy framework and governments can't do it without entrepreneurs and business people who are really going to take advantage of all of these opportunities,” she said.

    Zambian Minister of Trade, Commerce, and Industry Felix Mutati says the government has cut the time it takes to register a business from 21 days to two hours.

    “We have a market-driven policy framework where we have a liberal exchange rate. Bring in your money. You can take your money out. We protect your property and remain consistent on the commitments that we make to the investor. We think this is key to competitiveness,” he said.

    Mutati and Clinton spoke at the launch of the American Chamber of Commerce in Zambia.

    Greg Marchand, the chamber's founding president, says the group is bringing American entrepreneurs to Zambia to establish a platform for American investment.

    “How does America do business in Africa? When you go talk to people in America, they really don't have a concept of how to do business here. So what we are trying to do is actually develop the model. You don't start a process or a project without a work plan. And you don't do that without a model of how you are going to be successful. So that is what we are working on here,” said Marchand.

    Marchand says the chamber is recruiting graduate business student interns from the University of Chicago, Northwestern, and the University of Virginia.

    “We bring over what we consider the new talent in American business and have them concentrate on projects that are going to allow further American investment in Africa,” he said.

    Marchand opened his communications business in Zambia after comparing it with six other African countries in terms of politics, conflict, and currency.

    “A business school is a safe environment. So I look at Zambia as a business school. It allows you to learn how to do business in Africa in a country that has no civil unrest. It's English-speaking. It's a banking center. It's a regional center for business in the southern African region outside of South Africa,” said the chamber's founding president.

    Trade Minister Mutati says the strength of American business in Zambia attracts more outside investment.

    “If the American brand is present in Zambia, then the conditions for investment are good," he said. "Then the whole framework of governance and institutions are taken for granted because if Citi says 'I'm there' if General Electric says 'I'm there' you don't need to explain to anybody what your business environment is. They are the ones who are going to talk for you. They will tell the story.”

    Secretary Clinton says the growth of American business in Zambia is part of the Obama administration's approach to help developing countries chart their own future and ultimately end their need for aid altogether.

    “We want a relationship of partnership not patronage, of sustainability not quick fixes. We want to establish a strong foundation to attract new investment, open new businesses,” she said.

    Secretary Clinton came to Zambia for a forum on U.S. trade preferences under the African Growth and Opportunity Act. She continues this African trip with visits to Tanzania and Ethiopia.

    You May Like

    Clinton, Trump and the 'Woman’s Card'

    Ask supporters of Democratic front-runner in US presidential campaign, and they’ll tell you Republican presidential candidate is playing a dangerous hand

    Russian Censorship Group Seeks Chinese Help to Better Control Internet

    At recent Safe Internet League forum in Moscow, speakers from both nations underscored desire for authorities to further limit and control information online

    Video Makeshift Pakistani School Helps Slum Kids

    Free classes in Islamabad park serve a few of the country’s nearly 25 million out-of-school youths; NGO cites ‘education crisis’

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Turkish Kurd Islamist Rally Stokes Tensionsi
    X
    April 29, 2016 12:28 AM
    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Turkish Kurd Islamist Rally Stokes Tensions

    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Pakistani School Helps Slum Kids

    Master Mohammad Ayub runs a makeshift school in a public park in Islamabad. Thousands of poor children have benefited from his services over the years, but, as VOA's Ayesha Tanzeem reports, roughly 25 million school-age youths don't get an education in Pakistan.
    Video

    Video Florida’s Weeki Wachee ‘Mermaids’ Make a Splash

    Since 1947, ‘mermaids’ have fascinated tourists at central Florida’s Weeki Wachee Springs State Park with their fluid movements and synchronized ballet. Performing underwater has its challenges, including cold temperatures and a steady current, as VOA’s Lin Yang and Joseph Mok report.
    Video

    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
    Video

    Video Bangladesh Targeted Killings Spark Wave of Fear

    People in Bangladesh’s capital are expressing deep concern over the brutal attacks that have killed secular blogger, and most recently a gay rights activist and an employee of the U.S. embassy. Xulhaz Mannan, an embassy protocol officer and the editor of the country’s only gay and transgender magazine Roopban; and his friend Mehboob Rabbi Tanoy, a gay rights activist, were hacked to death by five attackers in Mannan’s Dhaka home earlier this month.
    Video

    Video Documentary Tells Tale of Chernobyl Returnees

    Ukraine this week is marking the 30th anniversary of the world's worst nuclear accident, at the Chernobyl nuclear power plant. Soviet officials at first said little about the accident, but later evacuated a 2,600-square-kilometer "exclusion zone." Some people, though, came back. American directors Holly Morris and Anne Bogart created a documentary about this faithful and brave community. VOA's Tetiana Kharchenko reports from New York on "The Babushkas of Chernobyl." Carol Pearson narrates.
    Video

    Video Nigerians Feel Bite of Buhari Economic Policy

    Despite the global drop in the price of oil, Nigerian President Muhammadu Buhari has refused to allow the country's currency to devalue, leading to a shortage of foreign exchange. Chris Stein reports from Lagos businessmen and consumers are feeling the impact as the country deals with a severe fuel shortage.
    Video

    Video  Return to the Wild

    There’s a growing trend in the United States to let old or underused golf courses revert back to nature. But as Erika Celeste reports from one parcel in Grafton, Ohio, converting 39 hectares of land back to green space is a lot more complicated than just not mowing the fairway.
    Video

    Video West Urges Unity in Libya as Migrant Numbers Soar

    The Italian government says a NATO-led mission aimed at stemming the flow of migrants from Libya to Europe could be up and running by July. There are concerns that the number of migrants could soar as the route through Greece and the Balkans remains blocked. Western powers say the political chaos in Libya is being exploited by people smugglers — and they are pressuring rival groups to come together under the new unity government. VOA's Henry Ridgwell reports.
    Video

    Video Russia’s TV Rain Swims Against Tide in Sea of Kremlin Propaganda

    Russia’s media freedoms have been gradually eroded under President Vladimir Putin as his government has increased state ownership, influence, and restrictions on critical reporting. Television, where most Russians get their news, has been the main target and is now almost completely state controlled. But in the Russian capital, TV Rain stands out as an island in a sea of Kremlin propaganda.

    Special Report

    Adrift The Invisible African Diaspora