Special Economic Zones the way to go

Victoria Ruzvidzo Business focus
An ostrich buries its head in the sand and naively assumes that because it cannot see trouble coming, it is not there. This is widely regarded as the ostrich mentality. It is unquestionable that this economy needs investment and Government’s initiative to introduce Special Economic Zones is clear testimony of its recognition of the investment imperative.

Unlike the ostrich, the Government is aware of the need to seek investment thus augmenting its coffers. The introduction of SEZ is proof of the Government’s realistic stance.
The world has become a global village and increasingly so year in, year out. Countries trade, import and export, forge relationships and form symbiotic alliances.

This is simply a universal truth. Without the above, economies crumble and populations are decimated. Special Economic Zones are primarily meant to attract investment foreign direct investment to be precise.

This is an area which cannot and can never be ignored. The liquidity challenges which afflict this economy simply dictate that we need capital inflows, we need to inject money into circulation, we need to be productive and hence prosper.

Clearly there is substance in the argument that investment should mutually benefit both parties i.e. locals and foreigners.

Even the most die hard of capitalists should and must acknowledge this clear as day fact. Our interests should not be subservient to those who wish to invest.

There is need to balance interests of both parties, are relationships not bound by this principle?

Investment which subordinates local interests is deleterious to the economy, in the short, medium and long-term.

Special Economic Zones should be supported by all and sundry. The need to get the economy moving must transcend even or perhaps especially, political divisions. .

Zimbabwe has to be competitive, attract investment and move towards fulfilling aspirations of its populace and be at peace with itself.

There are perceptions in some quarters that we as a nation do not prioritise investment or do not fully recognize its need. This initiative debunks this motion, by and large.

There are of course a number of factors which need to be actively considered and be addressed for us to need optimum benefits.

Media perception of this country on the international stage must be corrected where it is faulty or lacking in truthfulness. This is sadly true, more often than not.

I have had the privilege of travelling to a number of countries, both on the continent and abroad. I have been utterly shocked by the manner in which Zimbabwe is projected.

One would probably think Zimbabwe is a war zone where peace is non-existent and any investment here is suicidal. We can only ignore such blatantly false projections to our own peril.

The time taken to approve projects in most cases is simply outrageous. To use an oft-used phrase time is money and we lose the latter because of the former.

Turnaround time is the catch phrase (pun intended!) our infrastructure should be upgraded to meet expected standards who would want to invest in a country where they cannot efficiently transport goods.

Infrastructure should be conducive to production as well. As reported on Monday the 21st of April in this paper Pudong New Area and their first strategic step was upgrading infrastructure.

It must be said that this is universally acknowledged and applied.

These are some of the key consideration for attracting investment. Let’s bite the bullet and do what we have to.

Let us summon hope, honour and high resolve and re assert ourselves in every endeavour to improve this economy and flourish.

I am not under any illusions as to the clear and present challenges faced by SEZ and these are not just confined to Zimbabwe but particularly in Africa.

My experience in life tells me that challenges have to be obviated, mountains climbed, Rivers crossed and bends negotiated. I am yet to see any worthwhile achievement that has come easy.

Special Economic Zones reflect Government’s desire to attract investment, reflects its connection with reality and underpins its resolve to see the economy move.

While SEZ seek to attract investment, we should be duly cognizant of keeping those that are here. Continuing reports of company closures are ulcer inducing.

We want to create employment, improve liquidity, increase production and as my colleague Robson Sharuko would say reach our Promised Land.

This calls for co-ordinated, coherent and committed efforts of every facet of this economy so and investment is as key as every sector if not more.

In god I trust.