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Business Reporter
THE Zimbabwe Special Economic Zones Authority (Zimseza) has to date officially declared five special economic zones across the country as part of an on-going drive to entice domestic and foreign direct investment.

The Special Economic Zone (SEZ) model is being increasingly adopted as a tool of industrialisation across the globe and is at the heart of the Government’s strategies in transforming the economy.

In a media update on Friday, Zimseza chief executive officer, Mr Edwin Kondo, said the authority was seized with modalities to facilitate smooth implementation of SEZs in designated places.

“To date the authority has declared five special economic zones; namely Masuwe stateland in Victoria falls measuring 1 200 hectares, Fernhill in Mutare measuring 87 hectares, stand 518 Beitbridge and its surrounds measuring 105 hectares, Imvumila industrial area in Bulawayo and the Belmont, Kelvin, Donnnington corridor also in Bulawayo,” said Mr Kondo.

“The authority will also be declaring Sunway City (in Harare) as a special economic zone in a few weeks to come. The development of implementation plans for the declared zones and the earmarked Sunway city zone has already reached advanced stages.

“These plans will include (i) strategic programme planning, (ii) project identification, (iii) project structuring, (iv) project transacting and (v) project implementation.”

In a few coming weeks, he said, the authority would roll out a series of workshops with interested stakeholders including potential Chinese investors and other African SEZs operators from countries such as Rwanda and Ethiopia to mention a few.

“These workshops will culminate into site visits to the designated zones by potential investors to appraise themselves with the zones and the investment opportunities,” said Mr Kondo.

Given the magnitude of the work in developing the SEZs to be fully operational, he said, the authority was pursuing various developments and funding models for the identified projects. It is envisaged that at the time of commissioning of the zones they should have key utility infrastructure such as water, power, sewer, roads and connectivity.

“Accordingly the authority is engaging the State, utility service providers, independent developers, lenders and other development partners to map out a development and funding strategy for the zones,” said Mr Kondo.

Early last month, Zimseza amended the Surewin SEZ in Mutoko through a declaration in the Government Gazette under General Notice 104 of 2019.

The investment will introduce new technologies in granite mining and setting up a manufacturing plant for granite cutting and polishing including production of tiles and related products.

The project is expected to attract foreign direct investment to the tune of US$20 million with an estimated revenue of US$5 million per annum through both local and export sales of value added granite rock products.

This will see thousands of direct and indirect jobs created, especially for locals. The project is also set to contribute greatly towards introducing new technologies and skill, value addition, import substitution and creation of thousands of direct and indirect jobs in the main projects and downstream.