US$100m earmarked for Kalumbila Multi-Facility Economic Zone

 

THE private sector will in 2017 invest US$100 million in the Kalumbila Multi-Facility Economic Zones (K-MFEZ) as a way of promoting industrialisation and diversification of the economy. Minister of Finance, Felix Mutati, in his 2017 national budget presentation to Parliament said Government would continue promoting industrialisation as a means of diversification. He said the private sector would next year invest US$100 million in the K-MFEZ while Government would facilitate the development of Kafue Iron and steel, economic facility zones, including K-MFEZ. “Government will promote industrialisation as a means of diversifying the economy. This will be through facilitating value addition in the agriculture, mining and forestry sectors,” he said. Mr Mutati said Government would also assist up-scaling of investment projects at the Lusaka South-Multi Facility Zones (LS-MFEZ).He further said Government would in 2017 develop financing instruments that would attract pension funds led by the National Pension Scheme Authority (NAPSA).   He said the instruments would also be led by other investment companies to support industrialisation under the Industrial Development Corporation (IDC). “Priority will be given to projects that add value to output of the agriculture, mining and other primary sectors,” he said. In the mining sector, Mr Mutati said Government would accelerate the promotion of diversified mining output base to other minerals such as gemstones, gold, nickel, manganese and iron. Mr Mutati said Government would also promote the exploration for oil and gas. “Mapping of the entire Zambian territory will be undertaken to update the geological database to support future investment in the sector,” he said. He further said Government would ensure a stable and responsive mining tax regime while enhancing transparency in the sector.

Categorized | Business, Home News

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