Speaking at a Zambia Business Seminar in France on Thursday, 4th September, 2014, Chargé d’Affaires at the Zambian Embassy in Paris Philomena Kachesa urged French investors to increase their presence in Zambia, showcasing Zambian business opportunities.
Ms Kachesa recalled Zambia’s political stability and economic performances, including a 6.9% GDP growth in 2013, and a current Foreign Direct Investments (FDI) inflow of over USD 2 billion.
Ms Kachesa also mentioned the various tax incentives Zambia offers such as a corporate income tax of 0% for 5 years, a 50% rate for years 6 & 7, a 75% rate for years 8 and 9, and a full rate for the 10th year (35%), zero duty of capital items as well as an import VAT deferment.
Moreover, the Chargé d’Affaires recalled which were the priority investment sectors in Zambia : Public Private Partnership (PPP) and Infrastructure, Manufacturing, Tourism, Agriculture, Energy and Mining.
To conclude her speech, Ms Kachesa said that : « French companies such as Lafarge Group, Total, Bollore Logistics, CFAO have already invested in Zambia. With the Agreement on Investment Promotion and Protection between Zambia and France already in place, it would be wise to ride on these platforms and invest in Zambia”
Ms Kachesa added that there was no better time than now to invest in the country.
The World Bank ranked Zambia as the 7th best country to do business in Sub-Saharan Africa and 5th in the SADC region.
In addition to being a member of both COMESA and SADC free trade areas, Zambia has bilateral trade agreements with the USA, the EU, China and Japan.