Govt okays opening of 4 special economic zones

HARARE - Zimbabwe’s regulatory authorities have granted authority to open four special economic zones that offer investors greater incentives and fewer restrictions than available to date in the country, the Zimbabwe Special Economic Zones Authority (Sez) CEO Edwin Kondo has said.

The new economic zones will be in Bulawayo, Victoria Falls, Mutare and Beitbridge.

The Sez boss said the zones would be free from local regulations to make them competitive internationally.

“Four areas have so far been granted the special economic zones including Beitbridge that has been mandated with logistics and free trade, Victoria Falls specialising in tourism, Mutare concentrating in horticulture and Bulawayo focusing on the manufacturing sector,” Kondo said.

The economic zones will offer incentives for investors from free tariffs in selected items to lower personal income tax or reduced rent and fees.

Investors in the zones will benefit from special tax breaks and officials said they would not have to comply with indigenous economic empowerment laws that force foreign companies to sell majority shares to indigenous Zimbabweans.

Comments (1)

What is it that we manufacture in Bulawayo and why should I do it there instead of e.g Seychelles or George WC....two places I am planning to make sterndrives for a locally designed boat. The distance from the sea is the issue I consider. Byo can make it without all those incentives however it wont be cheap to live there in te years time. Gone are the days of making Amahovorosi abo madodabhini. The manufacturing services are advanced and the processes don't have to be in BYO.

Earl of Matopos - 2 November 2018

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