By BUSINESS REPORTER-
THE Zambia-China Trade Economic Cooperation Zone (ZCCZ) is happy with Government for making amendments to the list of priority sectors for investment in the multi-facility economic zones (MFEZ).
Government recently made changes to the Zambia Development Agency (ZDA) Act Number 11 of 2006 and came up with ZDA Act number 17 of 2014.
This Statutory Instrument Number 17 of 2014 has given a wider window for investment as it now included areas like energy and water, manufacturing, construction of 50 plus houses under one management and construction of silos.
ZCCZ, who are the developers of the MFEZs, said they were elated with this positive move because it would make it easy for them to capture more investment.
ZCCZ corporate affairs manager Stephen Lindunda said in an interview yesterday that as developers, they were now looking forward to increased inflow of investment into the MFEZs.
“Our core business is investment promotion and alongside this, is to woo investors and so, it goes without saying that it is always our desire to capture as much investment as possible into the MFEZs,” Mr Lindunda said.
And Mr Lindunda said the fluctuation of the Kwacha would not deter ZCCZ from its goal of building the most favourable investment platform in Africa.
He said this was because ZCCZ remained optimistic that stability of the Kwacha would be attained as Government through the Bank of Zambia had shown commitment to taking necessary measures such as the offloading of the US dollars into the economy aimed at stabilising the local currency.
Mr Lindunda called on Zambians to begin to take keen interest in the MFEZs concept by coming on board to invest.
“The misconception that the MFEZs are a reservoir for the Chinese only is wrong. The MFEZs are for Zambians just as much as they are for the Chinese and other investors,” Mr Lindunda said.
He advised Zambians against being discouraged by the prescribed US$500, 000 investment threshold saying they could overcome that by forming consortiums.
“Zambians can pull resources and expertise to together and invest in the zones. Here, we have got some protection in terms of import as you know any import that enjoys the MFEZs incentive is zero-rated,” he said.