Intra SADC trade for the fiscal year 2006 was worth $1.3 billion to the Zambian Enterprise meeting and exceeding expectations above and beyond envisioned thresholds. A phenomenal growth of well over 56.15% from the previous year of $730 million. Intra-SADC trade needs to be even more encouraged especially that it generates such huge export parities for our enterprise; and we did all this without any help from North Korea.
This shows that what we had been talking about for years and since been enacted into law under the Zambia Development Agency (ZDA) Act is workable as can been seen in these results because of focusing on value-addition to locally manufactured products to create jobs and wealth.
Under the Zambia Development Agency (ZDA) Act, the Government has proposed various incentives to attract investments that include zero per cent tax rate on dividends for companies operating in the priority sector and/or MFEZ under the ZDA Act for a period of five years from the year of first declaration of dividends.
Even before the Act came into being, we focused on this at the old forums (insaka) provided for by my good friend the virtuous Chanda Chisala; strictly evaluated the pros and cons with the likes of splendid Bwana as well as brainiacs like the famous Pimbilimano. The Act was formed and the results are here for all to see … thanks a trillion.
Brainwave R Mumba, Sr.
CEO & President – Zambian Chronicle
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