By BUUMBA CHIMBULUGOVERNMENT 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 […]
GOVT HALTS ISSUANCE OF INVESTMENT LICENCES
