The Democratic of Congo (DRC) government and AVZ Minerals have met to discuss Manono SEZ. AVZ’s MD, Nigel Ferguson, said that progressing discussions on the SEZ has proved challenging during the last seven months due to COVID-19 travel bans imposed in the DRC and the subsequent availability of key Congolese Government representatives.
He further expressed his excitement on the very recent progress achieved with the Congolese Government and that they are looking forward to a positive outcome being reached in terms of creating a workable and transparent SEZ agreement for the mutual benefit of the Manono region.
According to the MD, a positive outcome will result in significant economic benefits for the Company and the Manono Territory by reducing the largest area of financial impact on the Manono Project, as well as delivering a major catalyst for the redevelopment and invigoration of the socio-economic pulse of the Manono region.
Discussions focused on the framework for a Special Economic Zone (SEZ) and potential Public Private Partnerships (PPP) being created in the Manono region that will directly benefit its Manono Lithium and Tin Project.
The workshop was attended by senior Government officials from the offices of the Minister for Industry, the Minister for Finance, the Minister of Economy, The National Agency for Industrial Promotion (ANAPI), the Ministry of Environment, the Minister for Mines and the Minister for Hydraulic Resources and Electricity.
In February this year, AVZ Minerals executed a MoU with the Ministry of Industry to create a SEZ for the Manono region under a PPP framework, located in the Tanganyika Province in the DRC.
SEZ provides for an investor to enjoy exemptions or reductions, either permanently or temporarily, in a degressive or non-degressive manner, with or without the possibility of renewal or extension, on direct or indirect taxes, domestic duties and taxes, national, provincial and municipal royalties, import or export duties payable in the Democratic Republic of Congo.
