Chronicle Editor
Judith Phiri, Business Reporter
FINANCE, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube has said the commissioning of the Zimbabwe Investment and Development Agency (Zida) Southern Region office will go a long way to attract and support investment in the region, which to date has attracted significant investment worth US$1,186 billion.
Speaking at the official commissioning of the office in Bulawayo on Friday, the minister said the opening of the Zida Office in the city will play a key role in attracting more investment to the region in the years to come, as resources have been increased.
“I am reliably informed and particularly pleased to note that the Southern region has attracted significant investment worth US$1,186 billion, an amount captured and recorded through the One Stop Investment Services Centre at Zida, with mining and energy projects taking the lead in terms of the number of projects licensed,” he said.
“This is visible, as one of the continent’s largest iron and steel plants, located in Manhize in the Midlands province and driven by the Dinson Iron and Steel Company, has invested US$750 million in the development of this plant. Additionally, the same investor, Dinson Colliery invested close to US$75 million in its Hwange coking coal plant.”
He said the region was also home to the Gwanda Lithium project which has an estimated investment value of US$30 million, while these investments were a clear indication of the vote of confidence of investors, in the country’s National Development Strategy 1 (NDS1) vision for economic development.
Minister Ncube said the office will play a vital role in attracting and supporting investment into the Bulawayo Metropolitan Province, Matabeleland North and South Province, Masvingo and the Midlands Province.
“It is expected to continue to provide a one-stop shop for investors, offering a range of services, including business registration, licensing, and investment advice. The region is also home to several investment opportunities, in sectors such as manufacturing, agriculture, tourism and mining, while it hosted and held the largest area of officially designated public sector Special Economic Zones.”
He said there was the Masuwe Special Economic Zone in Matabeleland North, which is expected to drive tourism developments and several health and medical tourism facilities.
The minister said the Bulawayo Metropolitan area holds the Umvumila Special Economic Zone and the brownfield industrial areas in Belmont, Westondale, Kelvin West and Donnington area.
“In addition, there is the Beitbridge SEZ located in the Beitbridge Town and extended to cover the new border post. These public sector Special Economic Zones offer both local and international investors access to an estimated four thousand two hundred hectares of prime development land under the Special Economic Zone Regulatory framework,” he added.
Minister Ncube said his ministry has high expectations for the zones and we will work tirelessly with Zida who are the regulating authority, to ensure that the region will deliver exemplary projects that will be used as a measure on how to effectively deliver Special Economic Zones.
He said foreign direct investment was essential for Zimbabwe to achieve its economic development goals and the creation of Zida by the Government has made it easier to drive the agenda.
“My ministry which was recently given the mandate to drive investment promotion in the country, will be working closely with Zida to ensure that all investors are allowed to access as much of the country’s opportunities as possible — across all sectors of the economy.”
Bulawayo Minister of State for Provincial Affairs and Devolution Judith Ncube said the Zida Southern region office will continue to play a key role in attracting investment and creating jobs in Bulawayo Province.
“I urge all potential investors to visit the Zida Southern region office and learn more about the investment opportunities that exist in the city and the province. I would like to add that the Zida Southern Region Office is a testament to the Government of Zimbabwe’s commitment to attracting investment and creating jobs in Bulawayo Province.
“The establishment of this office is a clear signal to potential investors that Bulawayo is open for business. This will ensure sustainable and equitable development of the economy and create a better future for all Zimbabwe,” she said.
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