News

‘Take advantage of incentives’

CAROLINE KALOMBE, Lusaka
THE Zambia Development Agency (ZDA) has urged local and foreign investors to take advantage of the incentives of investing in multi-facility economic zones (MFEZ).
MFEZ manager Robert Banda said in a statement yesterday that apart from the physical incentives, there are also fiscal and non-fiscal incentives that investors can enjoy.
Mr Banda said investors in the manufacturing sector should also take advantage of the facilities, which already have electricity, water supply and proper road network.
He said non-fiscal incentives include the facilitation of business formalities such as employment permits and procurement of secondary licences.
“When you invest more than US$500,000 in the MFEZ, you enjoy fiscal incentives such as tax holiday, duty-free importation of capital equipment such as machinery, and dividends will be paid to investors free of withholding tax, all in the first five years of your investment,” he said.
Mr Banda urged investors to use the MFEZ, which have been built according to international standards.
He said seven investors have signed up at the Roma Industrial Park so far but urged more investors to utilise the economic facilities.
“One of the local companies, Bubezi, has already started the construction of a factory that will be manufacturing roofing tiles. Another company, Mount Meru Milling Limited, is putting up a seven-storey building for commercial and retail purposes. The facility will also house the headquarters for Mount Meru Milling Limited,” Mr Banda said



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