Online Reporter
Thupeyo Muleya, Beitbridge Bureau
MATABELELAND South Province is poised for significant economic transformation following the successful conclusion of a two-day investment expo and indaba held in Beitbridge from Thursday to Friday.
The province boasts three urban councils and seven rural district councils, all of which have abundant diverse investment opportunities across various economic sectors.
Its economy is anchored on mining, livestock production, agro-processing facilities, tourism, information communication, financial services and banking and technology, energy and power development, transport and logistics, irrigation development and infrastructure development.
Most of these sectors are yet to be fully exited and called on businesses to take up opportunities.
The event running under the theme “Unlocking the future: Showcasing resources and boundless opportunities” was jointly coordinated by the office of the Minister of State for Provincial Affairs and Devolution and Ataraxia Communications Group.
Scores of captains of industries, Diasporas, Government agencies, businessmen and farmers participated in the conference which was held in a hybrid format allowing for both physical and virtual participation.
Government ministries, departments and agencies (MDAs) mandated to enhance diaspora participation in national development also attended the conference.
The Minister of State for Provincial Affairs and Devolution, Dr Evelyn Ndlovu said in a speech read on her behalf by the Permanent Secretary for Provincial Affairs and Devolution, Mrs Latiso Dlamini-Maseko that the main objective of the conference was to unveil the investment opportunities to the local, foreign and diaspora investors.
The minister said it was critical for investors to explore opportunities that come with the setting up of Special Economic Zones (SEZ) in all the seven administrative districts.
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She said the conference was being held as a follow-up to a similar event held in the province last year.
“We aim to showcase investment opportunities that are ready for uptake by the diaspora and local investors, building on the momentum set by the previous conference we hosted last year,” said Minister Ndlovu.
“We are aiming at deepening and broadening diaspora engagement and dialogue between the province and the investment stakeholders and today we have showcased the vast investment opportunities available across key economic sectors within our province.
“We have engaged stakeholders on the policies and incentives available to investors, and we have strengthened public-private partnerships to enhance local economic growth. Most importantly we have created a networking platform and knowledge sharing among industry leaders and entrepreneurs.”
She continued, “These connections made and the deals struck during this Expo and Indaba will have a lasting impact on the economic development of our province”.
The minister said the SEZ had been designated to offer favourable business conditions, tax incentives and streamlined regulatory processes to attract foreign and domestic investment.
She said a Chinese investor, Xintai Resources in partnership with the Government was setting up a US$3,6 billion industrial park in Beitbridge under the Palm River Project to enhance mining development and rural transformation.
Dr Ndlovu said the province was strategically located on the regional and international trade corridor making it a premium zone for investment.
“Our provincial proximity to South Africa has brought about the Trans Limpopo Spatial Development initiative aimed to create a robust economic corridor, fostering increased trade and investment between Limpopo province and Matabeleland South,” said the minister.
“I am pleased to announce that through the initiative, we have twinning arrangements between local authorities in the two provinces that facilitate the sharing of best practices to attract investment.”
The provincial director of economic development and environment, Mr Richmond Ncube said they were happy with the feedback from the conference participants and that they had noted some areas needing attention to create a good environment for investment.
“We also had an excursion tour of the Palm River project to showcase among investors the benefits of taking up opportunities in the Special Economic Zone areas,” he said.
