Work on BB Industrial Park to resume

EPZA was spearheading the project before its merger with ZIC, giving birth to the Zimbabwe Investment Authority. The project is now under ZIA.
Economic Planning and Investment Promotion Minister Tapiwa Mashakada and his Home Affairs counterpart Minister Kembo Mohadi last week toured the industrial park to get a hands-on feel on the status of the project.
“It is a good project which must be revived as a matter of urgency,” said Minister Mashakada.
“If all the factory shells are completed, it will be easier to attract foreign direct investment to Beitbridge.”
Covering 42 hectares, the construction of the park started in 1999 and was initially expected to be implemented in four phases. But due to funding constraints, implementation was slow.
The first phase is partially complete, with a block measuring 1 000 square metres, which houses four factories along with 200 square metres of office space for each factory completed.
The factory shells are currently unoccupied while some offices are being leased to a few companies.
According to ZIA, about US$2,5 million was invested into the project.
Considering the country’s limited fiscal space, Minister Mashakada said for the funding of the project, Government would approach investors and enter into build, operate and transfer arrangements.
Minister Mohadi said the Beitbridge Industrial Park would enhance opportunities for exporters who will have easy access to the country’s largest trading partner, South Africa.
Beitbridge Town Clerk Dr Sipho Nsingo urged Government to speed up the construction, as it would change the socio-economic face of the border town, with its estimated 30 000 population.
“There is huge interests among South African investors who would like to set up business here. It would be greatly appreciated if Government was considering to resuscitate the project,” he said.
Industrial parks help in facilitating technology transfer, consolidation of cluster development and employment creation.
This one would also help to boost foreign direct investment into the country.