Agric sector has great incentives- ZDA 

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Zambia Development Agency-ZDA Chief Executive Officer Perry Mapani says it is rewarding to invest in Zambia's agriculture because of attractive business incentives.

Mr. Mapani says an investor in the sector is allowed to import agriculture equipment duty free adding that corporate tax is only 10% as opposed to 35% in other sectors.

He said this when Zambia's High Commissioner to India Judith Kapijimpanga took PRASAD Seeds Company that wants to set up a multi-million dollar seed processing facility in Zambia.

He says agriculture is a priority sector in Zambia as outlined in the Seventh National Development Plan -SNDP which looks at diversification of the economy from copper dependency, of which agriculture is key.

The ZDA Chief says Government is further supporting the sector through the creation of industrial parks and a farm block in each of the ten provinces.

Mr. Mapani says ZDA also runs with the investor in registration, legal requirements and land acquisition among others to ease their challenges.

And PRASAD Seeds Company General Manager for Africa Sreekumar Nair says the instruction by Prasad is to register a company in Zambia as soon as possible.

Mr. NAIR says Prasad Seeds which provides 70% of India's seed requirements will look beyond Zambia, SADC and the great lakes region for marketing it's products.

He says his company is reputable as it has 32 factories in India sitting on a 1 million square feet piece of built up factory space.

Meanwhile, Zambia's High Commissioner to India Judith Kapijimpanga says PRASAD Seeds Company is fully equipped with it's own captive energy to supplement the power from the main grid.

She says the Ministry of Defence is interested in partnering with Prasad Seeds Company in promoting food security in Zambia.

Mrs. Kapijimpanga says the idea by the Ministry of Defence to partner with PRASAD Seeds can go a long way in the country's food security if paddy rice and vegetable seeds are processed locally.

She says PRASAD Seeds Company has an outgrower scheme which empowers women and youths through giving them seeds to plant and later buys off the produce for seed processing.

This is contained in a statement made available by First Secretary Press and Tourism at the Zambian Mission in New Delhi, India, Bangwe Naviley.




           

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