Zim to accelerate SEZs

HARARE - Zimbabwe plans to open special economic zones that offer investors greater incentives and fewer restrictions than available to date in the country, so as to
attract investment and increase exports.

This is contained in an investment policy guideline and opportunities position paper drafted by President Emmerson Mnangagwa entailing radical reformation of economic
policies and processes to increase chances of attracting investments.

The new policy also involves, among other things, the elimination of prior screening of foreign investors and adoption of a risk based approach. These zones are mainly
aimed at promoting value addition and beneficiation by offering targeted and specific incentives to investors.

Financial research firm Equity Axis said  SEZs programmes should be part of the broad national development agenda and should be designed to best complement and support
comparative advantages, as validated through a detailed strategic planning, feasibility and master-planning process.

“This is key to ensure viability and long-term sustainability of SEZs based on real market demand. Randomly picking areas to implement zones programmes may fail to
bear desirable outcomes,” it said in a commentary.


 

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