Maravi

Govt to monitor MFEZ investors

Govt to monitor MFEZ investors
Written by Kabanda Chulu
Thursday, August 27, 2009 4:01:29 AM

ZCCZ vice-general manager Zan Baosen has said there is need to enhance Zambia’s industrialisation through the establishment of multi facility economic zones (MFEZ) that will attract investments in various sectors of the economy.

And Ministry of Commerce director of industry, Siazongo Siakalenge, said the government has put in place measures to monitor the implementation of investment pledges by investors holding MFEZ licences.

Holders of MFEZ licences enjoy various incentives ranging from quick issuance of work permits for expatriates, tax incentives and the establishment of bonded warehouses at project sites.

Giving an update on the Chambishi MFEZ being developed by the Zambia-China Economic and Trade Cooperation Zone (ZCCZ), Zan said 13 business enterprises were so far ready to invest US $500 million out of the total investment pledge of US $900 million.

Zan said building of structures by the prospective investors would start during the first quarter of next year following the engagement of Gomes Haulage Limited to carry out civil works including land levelling, construction of roads and building of water reservoirs and power supply lines.

He said ZCCZ had made investment of US $80 million to complete the 330/66 kilovolt substation with two main transformers of 120 mega volt amperes (MVA) and construction of the water pump station from Kafue River with capacity to supply 10,000 cubic metres of water per day.

“We are on course to be fully operational by 2011 and so far, we have cleared about two million square metres of land where road construction has commenced so that by early next year, the 13 entities that are ready should move on site and start setting up their industries,” said Zan.

“Actually the industrialisation of Zambia should be enhanced through MFEZ because this development will attract huge investments in various economic sectors and apart from the anchor company (Chambishi Copper Smelter) in the MFEZ, we have two potential investors willing to set up assembly plants whereby various equipment pieces will be imported from China to be assembled, here hence local people will benefit from skills transfer and knowledge sharing.”

And Siakalenge said the government was impressed with the progress made so far in developing the MFEZ.

“A lot of work has been done so far and by next year, we shall see construction of industrial structures and it is not true that we do not monitor the implementation of investment pledges by holders of MFEZ licences. We have built-in mechanisms to monitor progress and also ZCCZ is a parastatal company in the People’s Republic of China and they have a mandate to fulfill and they have an obligation to deliver whatever has been agreed upon,” said Siakalenge.

Labels: MFEZ, ZCCZ

posted by MrK @ 3:03 AM