• The ministry instituted changes to the investment licensing framework in line with the manifesto of the United Party for National Development.
• Key among the changes are the strengthening of the checklist for applications to improve the quality and levels of investment in the country.
• These measures are aimed at underpinning Government’s central message of scaling up trade and investment.

Minister of Commerce, Trade and Industry(MCTI) has with immediate effect lifted the suspension on issuance of Investment License, Permits for the establishing Multi-Facility Economic Zones (MFEZs) and Industrial Parks (IPs) and Investment Promotion and Protection Agreements (IPPAs) under the Zambia Development Agency (ZDA).Act No. 11 of 2006.

Chipoka Mulenga disclosed that the ministry instituted changes to the investment licensing framework in line with the manifesto of the United Party for National Development (UPND).

Mr. Mulenga noted key among the changes are the strengthening of the checklist for applications to improve the quality and levels of investment in the country, promotion of partnerships between foreign director investors and domestic investors, introduction of annual returns and scaling up of aftercare services of companies to improve value addition.

He explained these measures are aimed at underpinning Government’s central message of scaling up trade and investment through partnerships and joint ventures to sustainably grow the Zambian economy.

The Minster had since stated that Government through ZDA shall enhance monitoring and evaluation in order to help investors actualize their projected investments and other commitments as per conditions of the licenses to assure the envisaged job and wealth creation for Zambians.

“The monitoring and evaluation of companies will be done within the confines of the law,” he stated.

The Minister of Commerce, Trade and Industry late last year on 29th October 2021 suspended the issuance of investment licenses, Permits for the establishing Multi-Facility Economic Zones (MFEZs) and Industrial Parks (IPs) and Investment Promotion and Protection Agreements (IPPAs).

“This was to allow for a comprehensive review of the issuance process and procedures as well as for consultation with relevant stakeholders,” explained Mr. Mulenga.