The Zambia Chamber of Commerce and Industry (ZACCI) has called on the business community to promote compliance and improve internal governance instruments.
ZACCI president, Chabuka Kawesha, said this follows the swift measures taken by government in reducing the cost of doing business by revising various statutory fees overseen by the Competition and Consumer Protection Commission (CCPC) and Patent and Company Registration Agency (PACRA).
Read more: Private sector key to addressing electricity deficits-ZACCI
Kawesha said there is need for the business community to also provide the needed capacity for the businesses for increase efficiencies and business gains.
He said ZACCI has been engaging government through various fora and meetings to visit the regulatory arms and ensure that they effectively play their role in cost reductions.
“This message was effectively noted during the launch of the Public Private Dialogue Forum (PPDF) from ZACCI for regulatory agencies to move economic growth rigidities caused by high fees,” Kawesha said.
He said in engagements, ZACCI continues to call on regulatory agencies to yield to the appeals of identifying regulatory hurdles and fees that are stagnating growth of not only businesses and the industrialization drive, but causing a poor drive with feasibility studies, research and development.
He stated that it is pleasing that CCPC and PACRA have quickly demonstrated how regulatory influence can trigger increased business and industrial growth and support.
“We support the Minister of Commerce Trade and Industry efforts over this move and encourage all regulatory arms under his wing to equally spur effective and positive economic regulation trends,” Kawesha said.
Contributed by Augustine Sichula
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.