‘2021 budget to stimulate investment’

Industrial yards on course

yards in the LS- Works are going of and the contractor industrial yards in the on site.

Lusaka South Multi- “Once that Facility Economic done, we will

Zone (LS-MFEZ) to see SMEs which will boost local the zone and participation in the from there,” Mr area is expected to said. be completed in the He also observed next heavily 12 months. subsidized, the need have to increase

Participation favourable weather incentives conto

The Dairy Association of of local ditions investors and highly willing mechato invest Zambia (DAZ) has welin the nized economic too. So, it is good the zone. for Mr comed measures in the zone the is currently duty to be pushed expressed up concern 2021 budget aimed at stimlow due to the to, maximum among allowable that Zambia had ulating investment and other under reasons, the the World Trade competition Orfrom growth of the dairy indusminimum ganization investment conditions. countries such try. of US$500,000 “The 40 per which cent Rwanda, is a welKenya,

DAZ executive manager, some come locals move say is because Egypt, ZamSouth Jeremiah Kasalo, said for a prohibitive. bia does not need to Mozambique import long time his association LS-MFEZ milk,” Business the DAZ executive Zimbabwe that had been lobbying GovDevelopment manager said. better incentives. ernment to impose tax on Manager, Mr Francis Kasalo further Mr comKunda said imported powdered milk in Kunda, mended said the proposal minimum by US$ order to make locally proconstruction Government works to of harmonize 000 investment duced milk more competthe industrial the import yards duty on investors already to qualify itive on the domestic marwere reconstituted currently on milk at available 15 per incentives ket. course. cent. was a limiting

Mr Kasalo said his organMr Kunda local businesses.

isation would work with explained that the however said

Government to ensure that industrial yards, had been lobbying

the measure was impleonce completed, its parent Ministry

would boost local Commerce Trade

mented.

participation in the Industry which

DAZ was also elated

economic zones. talking to Ministry

about the proposal to in

He explained in Finance to improve

crease import duty on live

an interview that incentives.

stock products from 25 per

the industrial yards “For investors

cent to 40 per cent.

would enable small qualify, one has

Mr Kasalo said the mea

and medium sized invest minimum

sure would stimulate the

entrepreneurs to set US$500,000

local dairy farmers to com

up businesses in the some of the local

pete favourably with heav

zone. investors that

ily subsidized and highly

“That one is on the limiting factor.

mechanized producers of

table and we have you invest less

milk from developed coun

Citizen Economic S$500, 000 you

tries.

and Empowerment not be entitled

“Developed countries are

Commission who are incentives,” Mr constructing industrial said.

Developed countries are heavily subsidized, have favourable weather conditions and highly mechanized too. So, it is good for the duty to be pushed up to the maximum allowable under the World Trade Organization conditions.