The projected establishment of the Lusaka International Arbitration Centre, according to Justice Minister MULAMBO HAIMBE, will improve the settlement of commercial disputes and draw more foreign investment and business to the nation.
Speaking today in Lusaka at the publication of Understanding the process of establishing the Lusaka International Arbitration Centre was Mr. HAIMBE.
Because the court system is overburdened with cases, according to Mr. HAIMBE, the government supports the initiative by the Law Association of Zambia and the Chartered Institute of Arbitration-CIARB Zambia Branch to establish the Arbitration Centre for both local and international issues.
The International Arbitration Centre, according to Zambia’s Minister of Commerce, Trade, and Industry CHIPOKA MULENGA, prepares Zambia for greater investor trust.
The World Bank’s doing business report, according to Mr. Mulenga, has frequently brought up the issue of the prolonged resolution of commercial disputes.
Additionally, LAZ President LUNGISANI ZULU stated that the Center will address the issues that the business community has with case resolution.