THE government looks set to declare Bulawayo a special economic zone by June this year after missing the March deadline in a move it hopes would resuscitate the city as the country’s industrial hub by attracting foreign investment.
GAMMA MUDARIKIRI OWN CORRESPONDENT
Finance and Economic Development deputy minister Samuel Undenge yesterday told a Zimbabwe National Chamber of Commerce (ZNCC) conference in Bulawayo that the government was in the process of finalising the consultation with June being the most likely month to declare the special economic zone statu.
Undenge said the government had invited experts from China, South Africa and Uganda, which have successfully implemented specialised economic zones and would next week hold a seminar with government officials and captains of industry on a possible effective implementation strategy of the policy.
“The government is currently formulating regulations for special economic zones and these will benefit from the experiences of countries that have successfully implemented this concept such as Uganda, among others,” said Undenge.
“I have no doubt that, given the potential that exists in Bulawayo, it is also a target for such zones which will greatly modernise the manufacturing sector and hence facilitate the redevelopment of former industries and restore its status as the industrial hub of the country.”
Special economic zones are designated areas in a country that possess special status enjoying tax incentives and exemption from duty on importation of raw materials to create an investor-friendly environment, among other things.
Bulawayo Provincial Affairs minister Eunice Sandi-Moyo said a committee from the city had been appointed to come up with a position paper to spearhead the finalisation of declaring the city a special economic zone.
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“There is a committee which has been appointed by the Ministry of Trade and Industry to help in the finalisation of declaring the city a special economic zone,” she said.
Bulawayo mayor Martin Moyo said the government and captains of industry should move with urgency into implementing policies to revive industry in the city.
“We should stop lip service and implement policies to revive Bulawayo.”
