• Manufacturing an anchor of economic diversification.
• Only 15 percent of the land utilised at LSMFEZ.
• Minister calls on more investors to set up companies at the economic zone.
Ministry of Commerce, Trade and Industry says its agenda of economic diversification is anchored on manufacturing and agriculture.
Speaking after he toured the Lusaka South Multi Facility Economic Zone (LSMFEZ), Acting Minister, Mutotwe Kafwaya said the facility will make the idea of economic diversification to manufacturing turn into a reality.
‘‘The facility we have visited today has demonstrated that the country has the potential and capacity to manufacture products,’’ he said
Mr.Kafwaya also noted that the economic zone has attracted investors that are capable of changing the manufacturing sector in the country.
‘’What I have seen here is that companies like P.A.T and Zambian Fertilisers are moving into other lines of production and even producing more,’’ he said.
The minister called on more local and foreign investors to set up companies in the LS-MFEZ as it has alot land and fiscal incentives.
‘‘I have been informed that only 15% of land at this facility has been used, so we have alot of land that we can offer potential investors,’’ Mr. Kafwaya said.
The Lusaka South Multi-Facility Economic Zone (LSMFEZ), which has a total area of 2,100 hectares, was declared as a Multi-Facility Economic Zone on 28 June 2010 under Statutory Instrument No. 47 of 2010 by the Government of the Republic of Zambia.