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The Independent Observer > News > LM contemplates tax holidays for local businesses

LM contemplates tax holidays for local businesses

By CHINOYI CHIPULU
The Leadership Movement (LM) Party says it will focus on ensuring that Zambian entrepreneurs are given tax breaks and holidays in order to nature future investors.

Party president Richard Silumbe said involving Zambian business and entrepreneurs will foster economic recovery and growth in the country.

Dr Silumbe said it is important that all Zambian businesses and marketeers have these holidays so that they could have ample time to grow bigger and better.

He said in a statement that investors that came into the country did not come to set up businesse and help local people but to make profits in Zambia takes back to their countries of origin.

“These people came to conquer in Zambia, so when we need to think of building Zambian businesses and entrepreneurs before we think of building the economy.

“We have seen how these foreign investors have disappointed as they end up selling their companies after giving them tax breaks and holidays,” he said.

Dr Silumbe said that most foreign investors were not in the country to help the economy grow.

He said it was time to change the approach and stop taking business as usual if the country was to make progress.
“The economy can only grow when the Zambian businesses and entrepreneurs were involved.This was the only way the economy could be recovered and not allow the foreign investors to leave the country into a disastrous situation and worse than they found it,”he said.

He said that the country has continued experiencing high unemployment levels and that the economy has continued going down despite mushrooming shopping malls.