Firms apply to operate in Economic Zones

Firms apply to operate in Economic Zones
Published: 25 April 2018
THE Special Economic Zones Authority of Zimbabwe has started receiving applications from businesses seeking approval to operate in areas designated as Special Economic Zones (SEZs).

SEZ are designated geographical regions that operate under special economic regulations that are different from other areas in the same country. The model is meant to offer special conditions and incentives to enhance international competitiveness as well as bolstering industrial growth and development.

Addressing delegates during the Zimbabwe International Business Conference at the on-going Zimbabwe International Trade Fair (ZITF) in Bulawayo on Wednesday, Special Economic Zones Authority of Zimbabwe board member, Mr Busisa Moyo, said:

"SEZs will be an effective instrument in promoting industrialization in Zimbabwe if correctly planned, resourced, built and operated. The kind of applications that we are receiving now are sort of export processing zones type of application where somebody has got his own factory and wants it to be designated as a SEZ. So, we need to have a paradigm shift so that we create large SEZs that Zimbabwe needs."

Bulawayo, Sunway City in Harare, Victoria Falls and Tokwe Mukorsi have been identified as pilot SEZs.

Mr Moyo said for industrial development to be realised, it was important for the Government to foster political and macro-economic stability of the country as has been enunciated by President Emmerson Mnangagwa in his inaugural speech in November last year.
- zimpapers
Tags: SEZ,


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