Ladies and Gentlemen, we see the growth in manufacturing emanating from increased investment in agro-processing whose potential has not yet been fully exploited. It is in this respect that current and future initiatives emphasise forging of stronger linkages between agriculture and manufacturing, particularly through upstream linkages to agro-related processing. The other aspect of manufacturing that we see as stimulating growth in future is increased processing of minerals, key being copper (given the rapid expansion in copper output) and precious stones. Distinguished guests, the processing of copper into various high products at ZAMEFA is commendable. However, there is still a lot of room for other investors to invest in the processing of copper and indeed gemstones and precious stones that are mined in the country and exported as rough stones. Investing in downstream processing of gemstones and other minerals will not only enhance our export earnings but create employment for our people. Government on its part will among other things facilitate improved access to capital and equipment, enhance skills, rehabilitate support infrastructure and facilitate linkages for marketing of processed gemstones and other minerals. Mr. Chairman, it is worth noting that the construction of Zambia’s third cement company by Zambezi Portland Cement and the planned establishment of an assembly plant by Tata Ltd of India, here in Ndola are all welcome developments following improved confidence in our economy, which should boost growth and create employment. I would like to urge the business community to invest in similar ventures.

Ladies and Gentlemen, at this juncture, I would like to mention that the macroeconomic gains attained in the recent past will need consolidating in 2006 and onwards. You will agree with me that the macroeconomic gains attained have set the stage for sustained future growth of our economy, employment creation and poverty reduction. In this regard, allow me now turn to the future growth focus of our economy. Mr. Chairman, Zambia has articulated its long-term development objectives in the National Long Term Vision 2030. Part of this vision is enshrined in the Fifth National Development Plan (FNDP); 20062010 whose theme is: “Broad Based Wealth and Job Creation through Citizenry Participation and Technological Advancement”. This calls for policies that accelerate and sustain economic growth, and which enable the poor to participate in, and benefit from the growth process. In this respect the broad macroeconomic objectives for the Plan period 2006-2010 are as follows: -  To accelerate pro-poor economic growth;  -  To reduce and stabilise inflation; and  -  To sustain a viable balance of payments and external and domestic debt position. What then do we see as the sources of economic growth and employment creation in future? Ladies and Gentlemen, we see the growth of the Zambia economy being driven by increased activities in agriculture, mining, export-led manufacturing, tourism and energy. Agriculture Mr Chairman, this sector possesses great potential to make higher contributions to the country’s growth and employment aspirations given the abundant arable land and water supply.