Zia’s Bulawayo office upgraded

Economic Planning and Investment Promotion Minister Tapiwa Mashakada said Government noted with concern that investors were visiting Harare to scout for investments resulting in them not knowing vast investment opportunities in other provinces.
He said Government, through his ministry, had been prompted to ensure the authority’s office in Bulawayo became fully operational to promote investments based on the Medium-Term Plan (MTP) which was launched in the province last year.

“In response to these calls, the Ministry of Economic Planning and Investment Promotion is working on plans to ensure that the Zia office in Bulawayo is fully operational and promotes investment in the province,” he said while addressing journalists at the authority’s offices in Bulawayo yesterday.

He said through the refurbished Bulawayo Zia offices his ministry would be able to attract investments into the province.
“The office will ensure that investors visiting Zimbabwe are encouraged to visit Bulawayo province to invest.”

Minister Mashakada revealed that Government would soon be organising provincial investment forums on specific provincial deliverables and it was hoped that the Bulawayo investment office will play a leading role in organising such meetings with local and foreign investors.

He said Government was also committed to improving industrialisation in Bulawayo and urged city firms to partner foreign companies his ministry had been bringing into the country.
He said the upgrading of the Zia Bulawayo office came at a time when Government had shown its commitment to the Let Bulawayo Survive Campaign.

“Bulawayo strategic companies are set to benefit from the $40 million Distressed Industries and Marginalised Areas Fund. These initiatives should lead to increases in job creation and overall improvements in the economy of the province.
“Industry should also see an increase in capacity utilisation to achieve the MTP target of 80 percent,” he said.

He challenged provincial governors and local authorities to play an effective role in attracting investments.
Minister Mashakada said in countries such as China, local government authorities played a pivotal role in attracting investments in their respective provinces.

“Provincial administrators and governors and indeed chief executives of councils should spearhead the provincial investment drive. Such provincial investment offices will facilitate provincial investment initiatives,” he said.

He said one of the fundamentals of the MTP was to increase investment to 25 percent of Gross Domestic Product from about 4 percent in 2009.
He said this could be achieved if stakeholders at national and provincial levels worked together.