By ALICE NACHILEMBE
Technology and Science Minister Felix Mutati says that Zambia needs to increase access to renewable energy.
Mr Mutati said that the increase should be due to the current ongoing cost service study tariff structure and consideration of the legal framework review to ensure it motivates investment and facilitates competition in green energy to open foreign direct investment.
He said that as a newly elected Government, a number of pending issues arose and need to be dealt with it in view of investing in energy.
Mr Mutati was representing Zambia at the fourth round table on investment and sustainable development virtual conference.
He said that despite the push for investment policy review in the years 2010 and 2011 under the theme unlocking investment potential in Southern Africa authored by Finland and other cooperating partners the review process slowed in view of implementation.
Mr Mutati said Zambia requires institution capacity building, legal framework to support investment in view of technology perspective, and clarity on tariff requisites.
He said many investors are looking for Government guarantees in order to create an enabling platform.
The fourth annual roundtable brought together global experts to explore the importance of creating a favorable investment climate that supports decarburization and green growth.
The discussions highlighted the importance of the OECD Policy Framework for Investment and the FDI Qualities Initiative in guiding governments through the necessary reforms, and in strengthening the link between investment and climate policies & institutions.
