Economy

Sweden Urges Balanced Mining Taxation

Swedish finance minister Anders Borg has urged the Zambian government to balance the collection of tax revenues from the mining sector without stifling the industry which is the country’s economic lifeblood.

Borg who visited Zambia last week said the country should maintain a robust mining sector with strong diversification into agriculture.

He said Zambia needed to start growing a strong manufacturing sector through economic zones to start adding value to the vast copper currently being produced.

“You need to tax the mining sector so that you get revenues but you have to make a balance so that the mining sector is still remaining a strong industry. You need to export products from here to other countries and obviously the key feature to reduce your poverty is to let agriculture grow,” Borg said

Borg said Swedish companies that were predominantly in South Africa had started looking inwards for investment opportunities as Zambia and sub-sahara continued to grow strongly.

Comments are closed.