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President Mnangagwa makes an address as he officially opens the 59th edition of ZITF in Bulawayo yesterday

Prosper Ndlovu, Business Editor
PRESIDENT Mnangagwa has called on the Bulawayo business community to take advantage of the Special Economic Zone (SEZ) status to emerge as the industrial, cultural and conferencing hub in the economy.

Officially opening the 59th edition of the Zimbabwe International Trade Fair (ZITF) 2018 in the city yesterday, President Mnangagwa said the SEZ model presents huge opportunities for the second largest city, which has suffered massive de-industrialisation in the last two decades.

The President said adoption of viable industrialisation strategies was critical as the country forges ahead towards revamping its economy, with a bias towards increasing value addition and beneficiation of natural resources and home grown resources.

“Let me take this opportunity to urge Bulawayo to take advantage of its Special Economic Zone status to emerge as the industrial, cultural and conferencing hub.

“I, thus, implore the local community to “think big” about the immense potential that is abound in this beautiful City of Kings and Queens,” said President Mnangagwa.

He applauded the plan by the ZITF Company to establish a multi-million hotel and conference centre, describing it as a welcome development that will translate into increased employment and quality of life for the generality of the people.

President Mnangagwa challenged the business community to play their part in developing the economy by taking up opportunities that Government has made available through various policy instruments.

“I, therefore, exhort all players in industry and commerce to produce quality products, increase industrial capacity utilisation, think outside the box, innovate and use technology as well as appropriate solutions to reduce productivity costs and enhance product competitiveness,” he said.

“I further call upon business enterprises to establish business linkages with small to medium enterprises towards increased collaboration and more inclusive growth.”

The President stressed the need for closer purposeful and strategic collaboration between industry and institutions of higher learning to encourage technological advancement and innovation as well as ensure appropriate skills development and knowledge driven economic development.
As such, under the “Zimbabwe is Open for Business” mantra, President Mnangagwa said his Government was committed to guaranteeing security of investments and protection of private property rights. He appealed to both domestic and foreign investors to tap into diverse opportunities offered in SEZs and the open economy at large.

The President said the views raised by stakeholders during the International Business Conference on Wednesday, as well as feedback from potential foreign investors, were insightful and would be useful towards accelerated implementation of the SEZs.

The designation of SEZs is ongoing and Government has said these will be both area and commodity based. In his 38th Independence Day speech, as well as during his recent visit to the People’s Republic of China, the President reiterated that his Government would speed up the SEZs rollout with Victoria Falls set to become a tourism and financial hub. Other designated areas include Harare’s Sunway City and Tugwi-Mukosi in Masvingo province.