ZAMBIA’S MEMBERSHIP IN THE OECD DEVELOPMENT CENTRE
…..a New Dawn for Economic Growth and Sustainable Development
On December 9, 2024, Zambia was officially admitted as the 56th member of the Organisation for Economic Cooperation and Development (OECD) Development Centre in Paris, France.
Honourable Rodney Sikumba, Minister of Tourism, accepted Zambia’s admission to the OECD Development Centre on behalf of the Minister of Finance and National Planning during the 9th High-Level Meeting of the OECD Development Centre’s Governing Board in Paris, on December 9, 2024. In his remarks, Hon. Sikumba described the membership as a significant milestone that will assist Zambia in thriving in the global arena through better policy design and ensure consistent delivery of tangible economic progress at optimal cost.
This membership marks an important step for the nation, as it aligns with the Government’s goal of building a robust, sustainable economy through international partnerships and effective policy reforms.
The OECD Development Centre, founded in 1961, serves as a platform where both developed and developing nations converge to share policy expertise, foster dialogue, and exchange strategies for sustainable and inclusive growth.
Benefits of Membership:
✅Policy Support: Zambia will benefit from the Centre’s policy analysis and strategic support, focusing on sustainable economic development, governance, and social inclusion.
✅Economic Resilience: Insights from the OECD will assist Zambia in improving policy design, managing investments, and reducing poverty and inequality, promoting inclusive and green development.
✅Climate Change and Diversification: The Centre will support Zambia in creating sustainable, climate-resilient policies, especially in renewable energy and sustainable infrastructure, crucial for attracting investments.
✅Membership provides access to research on global trends and investment strategies, helping diversify Zambia’s economy and improve governance. This will enhance Zambia’s ability to secure international funding and foster multilateral trade partnerships.
✅Investment Policy Review: Zambia’s entry into the OECD Development Centre is timely, as the country is poised to embark on a second Investment Policy Review with the organisation. The first review, conducted in 2012, helped Zambia assess its investment climate and identify key areas for improvement. The new 18-month review, set to begin in early 2025, will focus on investment incentives, value-added manufacturing, and addressing climate and energy challenges. This review process, aligned with President Hakainde Hichilema’s strategy to use investment as a driver of economic growth and job creation, provides Zambia with an opportunity to refine its policies and enhance its attractiveness as an investment destination.
✅Through this collaboration, Zambia aims to engage in high-level policy dialogue and access tailored financing solutions to tackle its unique challenges, ultimately driving economic growth and job creation.
Naomi Mweemba
First Secretary Press at the Embassy of Zambia in France.