adminLovemore Zigara, Midlands Correspondent
PROVINCES should start warming up for the implementation of the Special Economic Zones (SEZs) and identify their comparative advantages to be granted the economic status, a government official said.
The government is finalising the formulation of a Special Economic Zones (SEZ) policy, which would enable free market oriented economic policies and flexible fiscal terms in the designated areas.
Identified zones would utilise an economic management system that is more attractive to doing business than the rest of the country.
Speaking during a Common Market for Eastern and Southern Africa (Comesa) investment sensitisation meeting in Gweru, Director in the Ministry of Macro-Economic Planning and Investment Promotion, Thabai Dhliwayo, urged provinces to start ground work for SEZs.
“With regards to SEZs, we’re now at a point where a Bill has to be sent to Parliament so that we’ve got an enabling Act for us to designate areas as SEZs,” he said.
“We’re now on the last lap of actualising SEZs. The message I leave with the provincial leadership is that you must be proactive.
“Start to look at your comparative advantage areas so that when feasibility studies are done for purposes of designating areas for SEZ, you’ll have a case at your disposal.”
Comesa’s 19-member countries are expected to ratify the Investment Area Agreement next year, which would lead to sustainable economic growth and development in all member countries and the region through “joint efforts in liberalising and promoting intra-Comesa trade and investment inflows”.
The agreement, which was supposed to be put in force in 2010, was delayed after member states forming the bloc said they were not yet ready to open up their borders to other countries within the grouping.
Dhliwayo said once ratified, the agreement would see the country’s industry being able to reach to a market of over 480 million people in the region.
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