The party secretary general Winter Kabimba said Zambia’s economy can only improve if the local people take the centre stage in controlling the economy.
Mr Kabimba said the economy was currently dominated by foreigners, especially international corporations.
He said the multi-national companies operating in the country were making huge profits but the money was externalised.
Mr Kabimba said foreign investors were only interested in making profits in Zambia at the expense of poor Zambians.
He said the Rainbow Party has plans to enhance the economy by encouraging local participation of Zambians who should take the lead in economic recovery.
Mr Kabimba said he did not leave the Patriotic Front because of frustrations but he wanted to form a political party that would improve the economy of the country.
He said the Rainbow Party has real ideas, not rhetoric, because it was interested in uplifting the economic status of the country in various aspects of the economy.
Mr Kabimba said the Rainbow has learnt a lot from the mistakes it had made during and after the 2016 elections and it will work to improve on its performance.
He said the Rainbow, which is a socialist party, will not practise socialism on the basis of theoretical arrangement but ‘‘real time practice’’.
Mr Kabimba was speaking in Kitwe during the party’s second anniversary.
And national mobilisation coordinator for the party Robert Chikwelete has urged youths to have a vision for the future by embracing progressive ideas.
Mr Chikwelete said the youths should work with political leaders who had developmental plans for the country.