Melo News | Friday, April 5, 2024 | Lusaka
President Hakainde Hichilema has expressed his optimism in the Lusaka International Arbitration Centre’s ability to enhance the quality of contracts and agreements that Zambia engages in for investments and debt agreements, ultimately contributing to economic growth.
During the inauguration of the Lusaka International Arbitration Centre, President Hichilema emphasized the importance of preventing potential issues that may arise from unclear agreements and contracts.
President Hichilema highlighted that some of the past debt agreements of the country were poorly structured, and he looks forward to the centre refining future frameworks.
The President stressed the significance of the centre in Zambia’s economic recovery and growth, particularly following the recent debt restructuring efforts.
Additionally, Commerce, Trade, and Industry Minister Chipoka Mulenga mentioned that the establishment of the centre will boost investor confidence and facilitate the swift resolution of commercial disputes.
Justice Minister Mulambo Haimbe also noted that the Arbitration Centre will play a crucial role in easing the backlog of cases in the country’s court system.
