Chronicle Editor
Business Reporter
THE Bulawayo City Council has engaged the Infrastructural Development Bank of Zimbabwe (IDBZ) to undertake a feasibility study in Umvumila area to establish key deliverables to be used in coming up with a Special Economic Zone Master Plan for the site.
The city is one of the areas that Government recently designated for the development of Special Economic Zones (SEZs) with a view to restore the city to its former glory as Zimbabwe’s industrial hub.
In Umvumila, the SEZs concept will be under an area-specific model while the Belmont Industrial Site would be under a sector-specific model.
Speaking by telephone yesterday, Bulawayo City Council (BCC) economic development officer, Mr Kholisani Moyo, said the undertaking of a feasibility study in Umvumila was part of a broader scope to operationalise the Special Economic Zones (SEZs) initiative.
“We have engaged IDBZ to do a feasibility study of Umvumila area because most of the investors coming that side need us to show them feasibility study of the area before they establish their operations there,” he said.
Last September, the Zimbabwe Special Economic Zones Authority (Zimseza) came up with an action plan to set the tone for the operationalisation of the SEZs concept in Bulawayo.
The action plan shows the scope of work that needs to be done by service providers to operationalise the SEZs concept.
Asked why the implementation of the SEZs concept was seemingly moving slower than anticipated, Mr Moyo said progress had of late been affected by the coming on board of the Zimbabwe Investment Development Agency (Zida) Bill, which also entails the merging of Zimseza and the Zimbabwe Investment Authority (Zia).
“All along we (BCC) have been dealing with Zimseza and after the gazetting of this bill, we have been given the directive to operationalise the SEZs through Zida.
“Just about a month ago, ZIA officials were here (Bulawayo) for the introductions and how we can work together in this initiative looking at progress that we have so made.
“We have shown them the work that we have done while working with Zimseza and we are continuing with the existing implementation matrix,” he said.
Companies operating under the SEZs enjoy certain incentives such as tax holidays, among others.
Other cities and towns with designated areas for the establishment of SEZs are Victoria Falls, Harare, Mutare and Beitbridge.
It is hoped that the SEZs initiative will add impetus to Government’s vision of transforming the country into an upper middle income economy by 2030.
In recent years, Zimbabwe has lagged behind in attracting the much-needed foreign direct investment due to the illegal sanctions imposed on the country by the West following the successful implementation of the land reform programme in 2000.
The coming in of the new political dispensation under President Mnangagwa in November 2017, has ushered in a new era after Government embarked on an international re- engagement programme.
Online Reporter