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BUSINESS leaders in Victoria Falls have applauded the decision by Government to launch the Victoria Falls Securities Exchange (VFEX) saying this will attract foreign direct investment to the prime resort town and enhance quick recovery of the tourism industry.
Victoria Falls has been designated as a hub for tourism and financial services under the Special Economic Zones (SEZ) initiative with a view of attracting tourists as well as luring investment through tourism.
Business leaders are convinced that a localised bourse in Victoria Falls not only shows devolution of the stock exchange market, but is a good move towards spreading investment flows into the country.
The VFEX will be denominated in foreign currency and targets foreign investors and global capital, especially the mining sector, said Finance and Economic Development Minister Professor Mthuli Ncube in a statement Monday.
He said the opening of the securities exchange facility in Victoria Falls affirms the status of Victoria Falls as an offshore financial centre and reinforces the Government’s mantra that ‘Zimbabwe is open for business’. — Herald Business.
Online Reporter