Investment, Trade and Business Development (Amendment) Act, 2024

This amendment adds a definition of “expansion project” and changes the incentive rule so an investor may qualify if investing in a new project or expansion project in certain locations or sectors.

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Jurisdiction: Zambia
Instrument: Act or statute
Citation: Act 3 of 2024
Version: Undated source snapshot
Language: en
Official source: View official record ↗

definitions farm blocks incentives priority sectors rural areas special economic zones

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AI-assisted research summary: This amendment adds a definition of “expansion project” and changes the incentive rule so an investor may qualify if investing in a new project or expansion project in certain locations or sectors.

Investment, Trade and Business Development (Amendment) [No. 3 of 2024 47 GOVERNMENT OF ZAMBIA ACT No. 3 of 2024 Date of Assent: 16th April, 2024 An Act to amend the Investment, Trade and Business Development Act, 2022. [18th April, 2024 ENACTED by the Parliament of Zambia. 1. This Act may be cited as the Investment, Trade and Business Development (Amendment) Act, 2024, and shall be read as one with the Investment, Trade and Business Development Act, 2022, in this Act referred to as the principal Act. 2. Section 2 of the principal Act is amended by — (a) the deletion of the definition of “rural area”; and Enactment Short title Act No. 18 of 2022 Amendment of section 2 (b) the insertion of the following new definition in the appropriate place: “expansion project’’ means a planned initiative for the purposes of increasing the size, capacity, scope or reach of business operations facilities or infrastructure;. 3. Section 30 of the principal Act is amended by the deletion of subsection (1) and the substitution therefor of the following: Amendment of section 30 (1) An investor shall be eligible for incentives under this Act if that investor invests in a new project or expansion project in a special economic zone, priority sector, rural area or farm block. Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10101 Lusaka, Price K4.00 each. 48

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Investment, Trade and Business Development (Amendment) Act, 2024

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