The Investment, Trade and Business Development (Amendment) Act, 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
(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:
(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. Enactment
Short title
Amendment
of section 2
[No. 3 of 2024 47
Amendment
of section 30
Act No.

onomic zone, priority sector, rural area or farm block. Enactment
Short title
Amendment
of section 2
[No. 3 of 2024 47
Amendment
of section 30
Act No.

18
of 2022
Investment, Trade and Business Development
(Amendment)
GOVERNMENT OF ZAMBIA
ACT
No. 3 of 2024
Date of Assent: 16th April, 2024
Single copies of this Act may be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K4.00 each.

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