By CHATULA KANGALI –

THE Government should give equal consideration to foreign and local investors when offering tax incentives, the Ndola Chamber of Commerce and Industry (NDCCI) has said.
NDCCI publicity chairperson Paul Chisunka said that there was unfair competition between foreign and local companies because of the huge tax incentives given to foreign investors.
He said foreign companies were able to compete favourably and make profit because of the incentives they were given by the Government.
Mr Chisunka, however, urged the Government to come up with a deliberate policy and implement economic policies that would allow fair competition between foreign and local investors.
“Zambia must be protected at all costs and nurtured to allow local companies to grow to a point where they can fairly compete with the larger mature industries established in foreign countries.
“Without this protection, industries will die before they reach a size and age where economies of scale, industrial infrastructure, and skills have progressed sufficiently to allow the industries to compete effectively,” he said.
Mr Chisunka was speaking at a Press briefing at Savoy Hotel in Ndola yesterday.
He called on the Government to restrict foreign participation in economic sectors such as mining, farming, and manufacturing.
He said there was need for Government to introduce anti-dumping and monopoly legislation which should disapprove cheaper foreign goods and services and stop international companies from squeezing out local business.
“In furthering this aim, we implore Government to support and protect local industries. Government should go out of its way to engage with all industries to ensure that it fully grasps and understands the daily challenges faced by businesses and take time to discuss with business chambers and associations,” he said.