By BUUMBA CHIMBULU
THE Lusaka South Multi-Facility Economic Zone (LS-MFEZ) has finalized the US$6.5 million investment by Java Foods Limited which will set a factory in the area.
Local Zambian Registered company, intends to set up a modern factory at a total project cost of US$6.5 million and is set to create more than 200 jobs.
The LSMFEZ Corporate Affairs Manager- Alice Schultz, said in a statement on Monday that the factory would occupy a 4.76-hectares of land and was positioned to service local, regional and international markets.
“The LSMFEZ is delighted to host this investment and is happy to report the progress made in furthering our Country’s agenda for economic diversification, wealth and job creation,” Ms Schultz said.
The LS-MFEZ, she said, had created over 31,000 jobs from inception with a record of about 3,373 jobs in the first quarter of 2023.
She stated that the Zone had a total of 98 companies approved and was currently hosting 22 operational companies with the remainder either at construction phase or obtaining sector approvals.
Ms Schultz pointed out that construction activities had peaked in the last 24 months and traffic within the facility was at an all-time high.
“As the Zone works towards this agenda, we encourage both local and foreign investors interested in the development of commercial facilities, research, and development as well as residential developments to register their interest with urgency while land is still available.
“We are happy to report that in 2022 the zone completely exhausted its quota assigned to industrial development and is currently working to ensure that all allocated investors begin construction,” she said.
On the focus areas for 2023, Ms Schultz said it included the development of shopping malls, vertical cities, studio apartments, recreational facilities which would include water sports, and an artificial beach as well as a golf course.
“Enhanced investor incentives which include tax exemptions on dividends and export profits declared for the first 10 years of operations as well as zero percent import duty on raw materials and equipment has accelerated interest in the economic zone and the Country as a whole. We thank the New Dawn Government for these initiatives,” she said.
This article is supported with the WAN IFRA Women In News (WIN) Social Impact Reporting Initiative (SIRI). Gender equality, diversity and inclusion ( GEDI) Information in this article does not reflect the views of WAN IFRA Women In News.
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