ZDA DISMISSES CLAIMS OF LAND ALLOCATION TO VIETNAMESE FIRM
ZDA DISMISSES CLAIMS OF LAND ALLOCATION TO VIETNAMESE FIRM
Professor Biemba Maliti, Board Chairperson of the Zambia Development Agency (ZDA), has clarified that the institution has not allocated 6 million hectares of land to a named Vietnamese firm.
He said, contrary to circulating information, ZDA does not approve or issue land to investors as it falls outside its jurisdiction.
Maliti, however, said in line with its duty to facilitate trade and investment in Zambia, ZDA did receive a proposal from Viet-Zam Diversified Operation Limited.
He said on 18th June 2024, a consultative meeting was held where Viet-Zam presented various investment scenarios, ranging from 1 hectare to 6 million hectares.
Maliti said the indicative investment amount totaled USD 72 billion over a 20-year period.
He said ZDA, in consensus with stakeholders, guided the investor to apply for a smaller piece of land, adhering to the existing farm block concept.
Maliti guided that a domestic or foreign investors can now apply for 1 to 20,000 hectares of land for their projects. Importantly, ZDA has not granted any incentives to the investor in question.