Thursday, February 29, 2024

President Banda assures Zambian investors of fair treatment

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President Banda with  CPD Properties managing director Charles Davy at the launch
President Banda at the launch

President Rupiah Banda has said his government will at no time discriminate against any foreign or local investors wishing to invest in Zambia.

And President Banda has called on investors to invest in the country because of the enabling investment climate put in place by Government through the Ministry of Commerce, Trade and Industry.

Mr. Banda says the principal law governing the development of multi-facility economic zones and industrial parks does not discriminate against any investors.

Mr. Banda was speaking in Lusaka yesterday when he officially launched the 104 hectare multi-dollar Roma Industrial and Commercial Park.

“The principal law governing development of multi-facility economic zones and industrial parks does not discriminate between foreign and local investors. It is my conviction that multi-facility economic zones and industrial parks should cater for both local and foreign investors.

“All investors both local and foreign will have equal opportunities to invest in any of the zones being developed in the country,” Mr. Banda said.

The Park originates from Russia and is aimed at diversifying investment and development opportunities in eight other African countries including Zambia.

[pullquote]“All investors both local and foreign will have equal opportunities to invest in any of the zones being developed in the country,” Mr. Banda said.[/pullquote]

The Roma Park which is a joint venture between foreign and local enterprises will have its own commercial and residential units, shopping mall, office complex, ware house and filling station.

Others are 400 houses, 20 office building, and 30 ware houses and will create over 4,000 jobs.

Mr. Banda said it is imperative that Zambia promotes activities that have a scope for private sector development to accelerate economic growth.

He disclosed that Zambia has greatly benefited from a number of new investment developments this year which demonstrates that the country has an international appeal as an investment destination.

The President thanked the shareholders of Roma Industrial and Commercial Park for taking a bold step of investing in Zambia.

“I take this opportunity to urge others who have not yet decided to quickly make up their minds as Zambia is now becoming a choice for investment,” President Banda said.

And speaking earlier, CPD Properties and Renaissance Development Manager for Africa Arnold Meyer commended President Banda’s administration for setting up a conducive environment for investors.

Mr. Meyer said Zambia is a haven for not only peace but good investment in the sub-region.

And Communications and Transport Minister Geoffrey Lungwangwa said Zambia has under the leadership of President Rupiah Banda recorded massive economic development.

Professor Lungwangwa said the launch of Roma Park is clear testimony of government’s commitment to the transformation of Zambia’s economy and wealth creation.

ZANIS

23 COMMENTS

  1. MICHAEL Sata says President Rupiah Banda’s solicitation of funds from Zambia’s Ambassadors and High Commissioners is a presidential directive to diplomats to divert money from their missions and send it for his campaign.

  2. Commenting on President Banda’s appeal to the diplomats on Thursday during their meeting in Chisamba that they should donate funds to his and the MMD’s campaign in this year’s elections, Sata said President Banda’s open solicitation of money from the envoys confirmed that the ruling party had always been getting money from missions abroad for campaigns hence the numerous reports of misuse of funds at embassies as revealed by the Auditor General’s report.

  3. “That is the direct presidential directive that those diplomats should divert money from their missions and send it to Lusaka for his campaign. That is wrong. The anomalies are the same. For example, where did MMD spokesperson and education minister Dora Siliya get K80 million to donate in Petauke? Where is the DEC Drug Enforcement Commission?” Sata said.

  4. “They have no regard for the Auditor General and financial regulations and those are the problems you find with Mr Rupiah Banda because he has no regard for anything. The Zambian people themselves can either tolerate this abuse or not.” Sata said the MMD was using public funds in its campaigns as seen from the Ministry of Health saga where the government was willingly paying back stolen money to the Global Fund without any difficulties because they embezzled without letting the culprits to pay back.

  5. “The government has admitted that they stole money from the Global Fund. That is why they are refunding that money without bringing the culprits to book because they used Global Fund money for campaigning and that is why the government is refunding that money without any difficulty,” Sata said.

  6. “If the government did not have a hand in that we should have seen the culprits who stole that money, the billions which the government is refunding.” On Thursday, President Banda openly told Zambia’s Ambassadors and High Commissioners accredited to various countries to donate money to his and the MMD’s campaigns in this year’s elections and commended them for funding the just-ended convention of the ruling party.

  7. President Banda said the MMD convention was wonderful because of donations from the diplomats and urged them to continue funding the party, particularly this year’s campaign. This was in sharp contrast with his foreign affairs minister, Kabinga Pande, who earlier in the week told the diplomats that Zambia’s foreign missions continue to be sources of abuse of funds as cited by the numerous queries by the Auditor Generals’ report. Pande, when he opened the meeting, called on heads of missions abroad to stop the abuse of funds.

  8. pa bwatooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo

  9. Much as this development is appreciated we need Manufacturing investors in the country. Thats what creates wealth. Houses? and offices? Warehouse for more imports?

  10. He should see how Zambians are up against barriers in most countries of the world. He is living in a world of his own dreams. There is no nation on earth that allows equal access to its resources to all people. Citizens are given priority in all cases. He is poorly advised that we have ended up with our nation making Zambians become ants in a sugar bowl in their own country!

  11. Iwe Chi John Phiri, can’t you do your politicking on another ( Story ) Blog? this has nothing to do with what you are writing.Pleease this is revolting.
    Thank you

  12. Good morning

    The Roma Park sounds good. I like the idea of local and foreign enterprises creating networks to bring development to Zambia. That’s the way forward.
    The government also needs to look more closely into job protection measures for all these newly created jobs. Please RB, don’t just “launch and go” and leave employees at the mercy of profit-hungry investors. We don’t want a situation where the president always turns up to launch job creation ventures but there’s grand silence whenever jobs are at stake (e.g mines).

  13. Bullshit development ,we need investore who will come and teach us how to develop oil free okra with their machinery ,not cement and bricks.We know how to build houses.Fine if tyhey build how will i pay rent,levies ,electricity bills etc.You are going like Gadafi,Mubarak,Mswati,Ivery cost ex etc,Its ur turn bwezani ziki ku mbuyoI have been living outside my home country and its painfull to see how developmnt taks place here,If you see a pothole i can give you my car.

  14. We hope these pronouncement are real. I am a Zambian Businessman failing to do business coz they are demanding Vat certificate and yet i have registered on Turnover tax. How are you going to help the SMEs like this surely.

  15. This development is most welcome and I hope Govt will beef up security in that area as its near the shanty compound. The Roma Industrial & Commercial Park will not be a source of polusion to the surrounding areas. Please take note of this fact.

  16. No discrimination against any investor, but there must be monitoring for the benefit of employees and customers.

    And RB, the government you speak about is not yours alone, so think before you speak.

  17. You have already exhibited these traits of ‘fairness’ Mr. President. You are strangely very fair towards foreigners to the extent that you forget to tax them. You have instead kept increasing our PAYE. What a shame!. Please heed our advice, Go Windfall!

  18. My fellow Zambians RB is working and is peaceful. Let us give him 5 more years Zambia needs to develop under serious leaders like RB. I will give him my vote.

  19. We welcome anybody investing in out beloved Zambia, so as they treat out people as equals and that our people work as hard in return and are paid a fair wage.

    To the government; please do more to enure that Lusaka and Zambian residents protected and served law enforcements from criminals. People work very hard only to be car jacked or robbed-so security needs to be tightened.:)>-

  20. The investment policy never favours Zambians, which is a shame. It favours foreigners because they give them kickbacks for their campaigns, chino chaka muwelelemo ku munda kwanu, Baba Banda. Zambian businessmen are always harrassed by ZRA for tax, just the way Civil Servants are harrassed on PAYE. Ndiye kupusa kwa Boma yanu A Rupiah.

    Welcome back John Phiri, mwepeza iyake computer baba?

  21. I don’t mean to brag,but I will state my credentials and not my names here.I’m a CCNA,CCNAV,CCNP,CCVP,CCIP,NCDA,MCITP,and guess what,I have done designs for big corporate organizations in this country,and what do they do? They give the designs to south african whites who come and do it at 200% higher prices,so that they can get their cuts. How does the government protect people like me from these foreigners,why should these foreigners come to do things we can do and externalize our little moneys? where is the government protection of professionals?

    sometimes I doubt if I made the right choice to come back to the country ruled by selfish self centered people

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