THE decision by the Bulawayo City Council to embark on an aggressive programme to make land available to investors is a step in the right direction.
Investment has virtually dried up in Zimbabwe, with Bulawayo being the most affected urban centre due to a variety of reasons.
Some of the reasons investors have shunned Bulawayo have nothing to do with the local authority’s shortcomings.
They include among others, the lack of respect for property rights, unreliable water supplies and policy inconsistencies.
Bulawayo actually boasts of the tag of being the best run municipality in Zimbabwe.
National policies are largely to blame for the massive disinvestment that has resulted in unprecedented unemployment in Bulawayo.
However, it appears the city council has realised that mourning and doing nothing about the situation would not work.
This week council organised a breakfast meeting where it spelt out several initiatives it is taking to promote investment.
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One of the proposals includes freeing up land for commercial developments mainly in the tourism sector.
Council said it would make land available for the construction of hotels, leisure resorts and nature reserves to lure investors.
The decision to focus on tourism must be applauded because Bulawayo should be disabused of the hollow dreams that the city would see the resurrection of big industries that characterised its economy in the past.
A number of companies would not be resurrected simply because their production systems have been overtaken by rapid technological developments.
There is influx of cheap imports that has made manufacturing in Zimbabwe challenging.
The future of Bulawayo could be in the tourism industry because of the abundant natural attractions that call for the construction of more hotels and leisure centres.
Council has to think about tapping into the growing knowledge economy by coming up with deliberate incentives to encourage investment by technology companies.
The evolving global economy makes it necessary for the city fathers to think outside the box when it comes to investment promotion.
