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Minister Sithembiso Nyoni

Business Reporter
SMALL and Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni says her ministry will advocate for the placement of small and medium enterprises under the Special Economic Zones to promote growth and development of the economy. A Special Economic Zone (SEZ) is a geographical region that has economic laws that are more liberal than a country’s typical economic laws. Usually the objective of establishing SEZs is to increase foreign investment.

In 2013, the government announced that plans were afoot to classify each province into SEZ based on the comparative advantage each region has in the economy.

In an interview, Small and Medium Enterprises and Co-operative Development Minister Sithembiso Nyoni said SMEs were the engines of economic growth thus placing them under SEZs would go a long way in developing the economy.

“As a ministry we are fully supporting the placement of SMEs under special economic zones. We hope that when the Ministry of Industry and Commerce places large industries under special economic zones, it will also accommodate SMEs,” she said.

The Ministry of Industry and Commerce holds the responsibility of placing industries and companies under special economic zones.
Nyoni, who was recently in China for a 10-day workshop, said protection of SMEs was very essential.

“SMEs in China are secured under economic zones, this contributes in ensuring their growth, so I feel there is a need to do the same even for our own SMEs,” she said.

Minister Nyoni said government wants the joint ventures between Zimbabwe and China to enjoy good relations as was the case on joint ventures between local businesses and their Indian counterparts.

She said cordial relations with China had benefitted some local entrepreneurs in the SME sector who now import goods from that Asian country.
“Some are now involved in joint venture marketing with their Chinese counterparts in deals worth $10,000 monthly,” Minister Nyoni said.
Efforts to establish joint ventures between local SMEs and their Chinese counterparts complement the Look East policy that the government adopted in 2003 when relations with the West soured.