Minister of Commerce, Hon.Chipoka Mulenga on the request of 6 million Hectares of land by Viet Zam
ZDA HAS NOT GIVEN 6 MILLION HECTARES OF LAND TO ANY INVESTOR
•….The investor presented various scenarios of investment from One hectare to 6 million hectares with an indicative investment amount of USD 72 billion over a period of 20 years.
Zambia Development Agency (ZDA) would like to clarify misinformation currently circulating on the purported allocation of 6 million hectares of land to the Vietnamese investor, Viet- Zam Diversified Operation Limited in various media platforms….
ZDA is the sole Agency responsible for promoting and facilitating trade and investment in Zambia and as such receives investment proposals from a broad range of local and foreign investors.
In addition, ZDA registers investors for investment which entitles them to incentives as provided for under the Investment Trade and Business Development Act No 18 of 2022 and other relevant pieces of legislation.
We wish to categorically state that ZDA does not approve or issue land to investors as this mandate is not under the jurisdiction of ZDA. Therefore ZDA has not approved 6 million hectares of land to Viet Zam.
The correct position is that, in line with its mandate ZDA facilitated a consultative meeting on the 18 June 2024 between Viet Zam and the stakeholders where the investor presented his proposal. The investor presented various scenarios of investment from One hectare to 6 million hectares with an indicative investment amount of USD 72 billion over a period of 20 years. The law mandates ZDA to facilitate meetings across sectors at the request of the investor without discrimination or bias.
ZDA in consensus with the stakeholders guided the investor to apply for smaller piece of land in line with the already existing farm block concept where a domestic or foreign investor could apply for 1 to 20,000 hectares of land for their project. Surely this guidance is not in any way approval of 6 million hectares of land. ZDA has no legal mandate to allocate land of any size let alone the purported 6 million hectares.
With regard to incentives proposed by the investor, ZDA provides incentives in accordance with the ITBD Act and any request outside the law is null and void. For avoidance of doubt, we wish to advise that ZDA has not granted any incentives to the investor in question and has no intention of granting any incentives outside what is prescribed in the law.
ZDA is therefore encouraging all investors and the general public to get in touch with the Agency to obtain factual information regarding investment matters of this nature
ZDA takes this opportunity to inform the nation that the Investor Confidence under the New Dawn Government is at its highest ever and as a result the country is experiencing a lot of interest from both local and foreign investors to invest in the country.
In this regard ZDA will continue to provide guidance and handholding investors to grow our economy.
This land you sale to foreigners one day our childrens children will be asked to leave. Plant trees that will provide a shade for our childrens children after we are long gone.
Zambians will be refugees on their own land one day because of idiotic decisions being made by fools we call leaders!
You don’t sell land to foreigners!
You lease it if you have to!
Careful! Chilyata will insult you. He is very vicious
bullshit
Aba ba conmen bala tuletelela.
This minister is endorsing this dodgy investment it seems.
This is where even most praise singers will reject this dodgy investment. That 72 billion USD will simply be deposited in Panama.
Let us diver such decisions to future generations. Ifwe we have failed miserably with our insatiable greed.
Zambia investment and business development Act No.18 of 2022. This piece of legislation must be revised. Because I don’t think it was passed with the interest of Zambian people in mind.
This piece of legislation set out a framework and guidelines for trades, investment and development in Zambia.
But from the look of things it appears the government through the minister of commerce are just handling a blank cheque to an investor. There is no way the terms are beneficial to the Zambian people.
1. Acquisition of free land with a 99 year lease.
2. Exclusive rights to rice growing and export.
3. Duty free on imported machinery, raw materials etc
4. Co-operation tax exception for 20 years, after which only 10% would be payable.
5. Granting of owners Zambian citizenship after 3 years.
This simply appears like the “Godfather” s way of scamming Zambians. He wants to strike again this time he want to strike it big.
He has mastered the nativity of Zambian people, no wonder he deliberately chose to surround himself with very dull men.
Woke up Zambian, if this was where I come from Barotseland. It would be a non starter.