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Thupeyo Muleya Beitbridge Bureau
Beitbridge Municipality is engaging Zimbabwe Investment and Development Agency to create a special purpose vehicle to promote investment in one of the country’s fastest growing towns.
Town Clerk Mr Loud Ramakgapola said the council was already planning major projects to accelerate the town’s economic growth as a special economic zone.
So far, tone investor had shown interest in the pharmaceutical sector while others were still making inquiries.
The town has investment opportunities in infrastructure development, beef and related products, manufacturing, livestock production, retail, warehousing, packaging, accommodation, transport and logistics.
“We are still engaging with investors but the movement is slow and our intention is to engage ZIDA to get the ball rolling,” he said.
“You will note that there has been a bit of quietness and we haven’t met ZIDA since its formation. So we need to meet and get things moving.
“The other issues that have slowed progress is the feasibility study, which is outstanding, and the special purpose vehicle between us and ZIDA, which should be finalised.”
Beitbridge Municipality has set aside 248 hectares to house businesses benefiting from the special economic zone and that land is zoned for both heavy and light industries.
In addition, the local authority recently resolved to expeditiously process business proposals from investors to reduce the red tape that frustrates so many.
The council was looking forward to having a lot of companies setting up shop in the town upon completion of all the necessary processes to activate the special economic zone.
The council has been engaging corporates and other business entities allocated prime land in town centre but were yet to start developing these stands.
At least 40 beneficiaries have been holding on to the business stands for between five and 10 years.
The town was gazetted as a special economic zone by Government in 2019 and wants to use this, and its location right on the border with the most developed SADC country, to push forward fast.
Online Reporter