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Comprehensive investment policy unveiled

In a quest to propel economic growth and attract global investment, Lesotho has unveiled a robust investment policy aimed at creating a conducive environment for sustainable development and prosperity. 

 This was stated by the Ministry of Trade, Industry, and Business Development, the Deputy Principal Secretary Mr Jobo Rasoko in Maseru on Thursday. 

 Mr Rasoko said he believes this comprehensive investment policy will foster economic growth and attract global investment.  

 “The central initiative is the introduction of measures for investment facilitation, including dedicated support services and streamlined administrative procedures, these efforts are expected to reduce bureaucratic hurdles and stimulate investment across key sectors like infrastructure, manufacturing and financial services promoting economic diversification and overall growth,” he added. 

 Furthermore, he stressed that transparency and predictability must be highlighted as fundamental principles of the policy with clear rules and consistent regulations aimed at providing stability for investors. 

 Similarly, the CEO of Private Sector Foundation Mr Thabo Qhesi highlighted that to further support investment, Lesotho is implementing measures for investment facilitation dedicated to support services and simplified administrative procedures. 

He said this will be introduced employing a one-stop-shop such as e-services to simplify procedures and reduce bureaucratic hurdles.  

He added that this streamlined process is expected to encourage investment across key sectors of the economy, promoting economic diversification and growth. 

 “Transparency and predictability are emphasized as cornerstones of the policy, clear rules and consistent application of regulations will provide stability and predictability in the investment climate, fostering an environment conducive to long-term commitments and sustainable development,” he stated. 

 The unveiling of this investment policy marks a crucial moment in Lesotho’s economic strategy, signalling a commitment to fostering a favourable business climate and unlocking the country’s full economic potential. 

 

Source: Lesotho Today (Department of Information) 09/07/2024

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