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Vice President Emmerson Mnangagwa

Midlands Correspondent
THE Government has allocated 378 hectares of land to the Ministry of Tourism and Hospitality in Victoria Falls as part of efforts to turn the resort town into a financial and hospitality centre, Acting President Emmerson Mnangagwa has said.

Speaking at the relaunch of Golden Mile Hotel in Kwekwe at the weekend, Acting President Mnangagwa said the move is part of the grand strategy of coming up with a special economic zone (SEZ) policy.

“We’ve also identified the Victoria Falls as a financial and hospitality centre and in that respect. I’m glad to advise that 378 hectares has been allocated to the Ministry of Tourism and Hospitality and this is an opportunity for those who would want to develop hotels and hospitality facilities,” said the Acting President.

The SEZ Bill is awaiting approval to pave the way for the designation of areas to be given such status.

Meanwhile, the Acting President has commended the hospitality industry for pegging some of its prices in the South African rand as part of efforts for the sector to remain competitive on the regional market.

He said: “I’m happy to note that the tourism and hospitality industry is the first to appreciate that the United States dollar denominated pricing model doesn’t work in a regionally competitive market such as ours, and have thought of how, in order to match South African and Zambian competition, they could peg some of their prices in rand.

“But to remain competitive, costs of operating such businesses would need to be aligned to the rand denominated sales. If this pricing model is successful, other industries and sectors might also follow suit, eventually benefiting the wider economy.”

Acting President Mnangagwa challenged the National Competitiveness Commission to critically interrogate the current pricing structure, with a view to developing a competitive pricing model that could help stimulate economic growth.

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