ZDA Act revision starts

 

GOVERNMENT has commenced the revision of the Zambia Development Agency (ZDA) Act to ensure reduced entry fees into the MultiFacility
Economic Zones (MFEZ) for local firms.
This followed complaints from stakeholders that the entry fees for the MFEZ which was currently at $500,000 was too high for local Small and Medium Entrepreneurs (SMES) in the country.
Commerce Trade and Industry Minister Margaret Mwanakatwe said that the ministry was revising the ZDA Act that will see the amendment of entry fees for the MFEZ.
Ms Mwanakatwe said in an interview that the current $500,000 was too high and hindering small local businesses from investing in MFEZ.
“We are revising the ZDA Act that will enable us revise the entry fees for the MFEZ, we want to make the fees affordable for the locals to invest in MFEZ .The revision of the fees would be done in consultation with stakeholders,” she said.
Ms Mwanakatwe earlier bemoaned the low entry of Zambian companies into the MFEZ due to high charges.
She said Government was committed to creating a platform for the country to achieve economic development through the MFEZ in foreign and local direct investment.
The Minister said the development of the MFEZ in the country was aimed at making Zambia competitive through increased  trade and manufacturing sector.
The most active MFEZ in the country include the Chambishi MFEZ on the Copperbelt province and the Lusaka South MFEZ.

Source Business – Times of Zambia