By BUUMBA CHIMBULU
GOVERNMENT has suspended issuance of investment licenses, permits for the establishing Multi-Facility Economic Zones (MFEZs) and Industrial Parks (IPs) and Investment Promotion and Protection Agreements (IPPAs) until a thorough review is undertaken. All these are under the Zambia Development Agency (ZDA).
The review will be comprehensive, rapid and will include checking on the levels of compliance to licensing conditions and other conditions among others, says Commerce Trade and Industry Minister, Chipoka Mulenga. Mr Mulenga said companies found to be in breach would be penalised according to the prevailing law. He said this when giving an update on the status of the Boards of Directors for the Statutory Bodies under his ministry and the measures being implemented to reduce the cost of doing business in the country.
“Based on the findings of the review, the Ministry will propose changes to the investment framework with a view of making it more beneficial to Zambians in line with the philosophy of the Government,” Mr Mulenga said. He therefore urged companies that were issued with investment licenses, permits for the MFEZs/IPs and IPPAs to strictly adhere to their licensing conditions.
The Minister explained that pending license applications would be dealt with using the existing channels. He also said the Ministry is actively dealing with the high cost of doing business and other challenges faced by the private sector.
In this regard, he stated, the Ministry was structuring a framework that would lead to a reduction in the number of licenses, permits and so forth. He said the framework, which would be set up in partnership with the private sector, civil society and cooperating partners, was in line with the philosophy of the Government of developing a private sector driven economy.
Mr Mulenga stated that the framework would include the re-establishment of a robust structured public private dialogue (PPD) including the reconvening of the Zambia Business Council (ZBC) under the chairmanship of the Republican President.
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By BUUMBA CHIMBULU
GOVERNMENT has suspended issuance of investment licenses, permits for the establishing Multi-Facility Economic Zones (MFEZs) and Industrial Parks (IPs) and Investment Promotion and Protection Agreements (IPPAs) until a thorough review is undertaken. All these are under the Zambia Development Agency (ZDA).
The review will be comprehensive, rapid and will include checking on the levels of compliance to licensing conditions and other conditions among others, says Commerce Trade and Industry Minister, Chipoka Mulenga. Mr Mulenga said companies found to be in breach would be penalised according to the prevailing law. He said this when giving an update on the status of the Boards of Directors for the Statutory Bodies under his ministry and the measures being implemented to reduce the cost of doing business in the country.
“Based on the findings of the review, the Ministry will propose changes to the investment framework with a view of making it more beneficial to Zambians in line with the philosophy of the Government,” Mr Mulenga said. He therefore urged companies that were issued with investment licenses, permits for the MFEZs/IPs and IPPAs to strictly adhere to their licensing conditions.
The Minister explained that pending license applications would be dealt with using the existing channels. He also said the Ministry is actively dealing with the high cost of doing business and other challenges faced by the private sector.
In this regard, he stated, the Ministry was structuring a framework that would lead to a reduction in the number of licenses, permits and so forth. He said the framework, which would be set up in partnership with the private sector, civil society and cooperating partners, was in line with the philosophy of the Government of developing a private sector driven economy.
Mr Mulenga stated that the framework would include the re-establishment of a robust structured public private dialogue (PPD) including the reconvening of the Zambia Business Council (ZBC) under the chairmanship of the Republican President.
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