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Chinese Bus Manufacturer Zhong Tong Suspends Operations In Zimbabwe

3 weeks agoTue, 14 Jan 2025 13:39:19 GMT
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Chinese Bus Manufacturer Zhong Tong Suspends Operations In Zimbabwe

Zhong Tong Bus, a Chinese bus manufacturing company, has suspended its operations in Zimbabwe, effective January 14, 2025.

Zhengzhou Bus Zimbabwe, trading as Zhong Tong Bus Zimbabwe, confirmed the development in a statement but did not disclose the reasons for its decision. Reads the statement:

This serves to notify that Zhengzhou Bus Zimbabwe has suspended it’s business operation in Zimbabwe with effect from 14 January 2025. On behalf of the Zhong Tong Management we would like to thank you all our valued customers for your continued support.

The Zimbabwean government recently lifted the suspension of duty exemptions on fully assembled public service buses, which had been in place for some time.

Instead, the government has introduced a suspension of customs duty on semi-knocked-down bus kits, while fully assembled buses will now be subject to duty in a bid to promote the local industry.

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According to Statutory Instrument 194 of 2024, published in the Government Gazette on December 30, 2024, customs duty was suspended on semi-knocked-down bus kits imported or taken out of bond by approved assemblers for bus assembly.

This suspension will be in effect for five years, from January 1, 2025, to December 31, 2029.

Statutory Instrument 194 of 2024 also stated: “With effect from 1st January, 2025, duty suspension shall only apply to public services buses that were purchased on or before 28th November, 2024, and cleared for consumption by 14th February 2025. Thereafter the suspension of duty provided under this section shall cease and duty shall be payable on all public service buses imported into Zimbabwe.”

More: Pindula News

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