Q FM Africa's Modern Radio
Commerce Trade and Industry Minister Christopher Yaluma says the revision of the Zambia Development Agency (ZDA) act to ensure reduced entry fees into the Multi-facility Economic Zones (MFEZ) for local firms is at cabinet stage.
Government’s decision to revise the entry fees to the MFEZ’S follows complaints from stakeholders that the entry fee for the MFEZ’S currently at $500,000 is too high for local small and medium entrepreneurs in the country.
Mr. Yaluma says a lot of progress has been made with regards the revision of the entry fees which he agrees are too high for local SMEs.
He says it is important that the fees be revised so that local business and SMEs can equally benefit from setting up industry in the MFEZ’s.
The minister states that government is committed to creating a platform for the country to achieve economic development through the multi-facility economic zones.