In its continued bid to facilitate and service investor needs, Zambia Development Agency (ZDA) management, visited Trade Kings Group of companies in order to appreciate operations of the local investor.
Speaking during the visit, ZDA Director General Mr. Albert Halwampa said the Agency facilitated for the review of the Investment, Trade and Business Development (ITBD) Act No. 18 of 2022 by Parliament, in order to enhance provisions of the Act, such as Investment Incentives.
He revealed that the intention is to secure investment incentives for investors expanding and diversifying their operations among others as this directly adds to the gross domestic product (GDP) and creates additional jobs for the citizens.
Mr Halwampa added that the Agency has gone further to set up desks at the Lusaka South Multi-facility Economic Zone and the Lusaka East Multi-facility Economic Zone so as to provide services to new investors, identify challenges and provide solutions for existing investors in real time.
He applauded Trade Kings Group for their tenacity to invest and expand their investments in the country and beyond.
“Trade Kings Group is a huge success for Zambia and we urge you to continue supporting the nation through your contribution to GDP and job creation,” he said.
And responding to a call from Trade Kings Group to declare Kasumbalesa as an export zone, Mr. Halwampa said the strength of the ITBD Act is that it provides for the declaration of special economic zones which include multi-facility economic zones, inter-country zones, industrial parks and export zones.
“The Agency has taken note of your call and once the economic benefits have been studied and agreed upon, the process of declaring Kasumbalesa as a zone will begin as it is already provided for in the law. And with the coming of the Lobito Corridor, Zambia shall also have access to the over 100 million population of the Democratic Republic of the Congo (DRC) in addition to the existing market in Angola,” explained Mr Halwampa.
He stated that the DRC and Angola are two big natural markets for Zambia which should be fully exploited.
Meanwhile, earlier, Engineer Ernest Mande, Trade Kings Group Engineer and Spokesperson called on the ZDA to consider investment incentives for investors that are expanding or diversifying as this injects actual money into the economy and creates jobs.
Engineer Mande, further appealed to the ZDA to consider declaring Kasumbalesa as an export zone as he envisioned that it would have multiple benefits for the Country.
He pledged the company’s continued support and partnership with government for sustainable development, job creation and poverty alleviation.
