Chronicle Editor
GOVERNMENT will draw lessons from the pilot projects of the Special Economic Zones (SEZ) to expand the programme across the country as part of measures to promote industrialisation and economic growth, a cabinet minister has said.
Macro-Economic Planning and Investment Promotion Minister Simbarashe Mumbengegwi highlighted Government’s commitment in ensuring the SEZs initiative prospers and contributes towards economic development.
Last year, the SEZ Act was gazetted to pave way for the implementation of SEZs.
“In pursuit of realising this initiative, Government has therefore identified four pilot SEZs, namely, Sunway City in Harare, Bulawayo Industrial hub, the Victoria Falls Tourism hub and Tokwe Mukosi.
“Lessons drawn from the SEZ pilot projects will assist in the designation of more Special Economic Zones in other provinces, taking into cognisance the comparative and competitive advantages of each province,” said Minister Mumbengegwi in a presentation made on his behalf at a sensitisation workshop on Zim-Asset review exercise, national investment policy, SEZs and harmonisation of investment laws.
SEZs are designated geographical regions which operate under special economic regulations that are different from other areas in the same country. They offer special conditions and incentives to promote international competitiveness.
In countries where they have been successfully implemented, the SEZs have helped attract foreign technology and enabled them to export commodities to international markets. — BH24
derick.khumalo