Zambia Launches Second Investment Policy Review with OECD Support
The Government of the Republic of Zambia has officially launched its second Investment Policy Review (IPR) in partnership with the Organisation for Economic Cooperation and Development (OECD).
This move signals a renewed commitment to enhancing Zambia’s investment climate and attracting sustainable foreign direct investment.
The launch, officiated by Secretary to the Cabinet Mr. Patrick Kangwa, took place during a high-level Task Force meeting at Cabinet Office on 21 May 2025. The OECD delegation was led by Dr. Martin Wermelinger, Head of Sustainable Investment, and attended by senior government officials from key ministries and departments.
Zambia’s second IPR follows a comprehensive reform agenda initiated in the past three years. Key reforms include debt restructuring, improved fiscal management, enhanced social sector support, and transformative policies across critical sectors such as energy, agriculture, ICT, manufacturing, tourism, infrastructure, and climate resilience.
The ongoing IPR aims to evaluate Zambia’s legal and regulatory frameworks for investment, address the balance between national security and openness to FDI, and strengthen tax reforms and investment incentives. It also prioritizes strategies that promote youth and women empowerment, responsible business conduct, and sustainable economic practices.
Special attention will be given to the mining value chain, focusing on local linkages, value addition, and sustainability in one of Zambia’s most vital economic sectors. Additionally, the review will support the country’s efforts in climate adaptation and resilience.
As part of the review process, the Public-Private Dialogue Forum (PPDF) will serve as a platform for the OECD, government entities, and the private sector to exchange information and insights.
The initial OECD fact-finding mission took place from 21 to 23 May 2025, with more engagements—especially with private sector stakeholders—expected ahead of a second in-person session scheduled for September 2025.
Zambia now joins a growing group of eight African nations undertaking their second IPR. The journey toward this milestone began in December 2021, when the Ministry of Finance requested OECD support for an updated investment reform assessment.
