Mutare —
President Emmerson Mnangagwa said government will soon grant Manicaland a
Special Economic Zone (SEZ) status.
President Emmerson Mnangagwa said government will soon grant Manicaland a
Special Economic Zone (SEZ) status.
Addressing
a rally at Sakubva stadium in the eastern border city on Saturday, Mnangagwa
said Manicaland will fall under SEZs for the purposes of exportation of goods
to Beira from Mutare.
a rally at Sakubva stadium in the eastern border city on Saturday, Mnangagwa
said Manicaland will fall under SEZs for the purposes of exportation of goods
to Beira from Mutare.
Manicaland
province is rich in natural resources such as gold, diamonds and timber and has
got a good climate for horticulture.
province is rich in natural resources such as gold, diamonds and timber and has
got a good climate for horticulture.
“In
our economic plans, Manicaland will be granted a status of Special Economic
Zone for the purpose of exportation of our commodities from this area to port
of Beira,” he said.
our economic plans, Manicaland will be granted a status of Special Economic
Zone for the purpose of exportation of our commodities from this area to port
of Beira,” he said.
He said
the status will give the province employment opportunities, technology and
skills importation.
the status will give the province employment opportunities, technology and
skills importation.
“We
have seen it fit to grant you that status as it will create employment
opportunities and skills and technology importation for the region,” said
Mnangagwa.
have seen it fit to grant you that status as it will create employment
opportunities and skills and technology importation for the region,” said
Mnangagwa.
The
special economic zones idea was promulgated into law in October 2016, largely
to attract foreign direct investment (FDI), generate employment and create
employment.
special economic zones idea was promulgated into law in October 2016, largely
to attract foreign direct investment (FDI), generate employment and create
employment.
The main
motivation for designing SEZ is to attract greater FDI inflows, create jobs and
increase exports from the host country.
motivation for designing SEZ is to attract greater FDI inflows, create jobs and
increase exports from the host country.
According
to economists, SEZs are more successful in national economies with adequate
infrastructure, in particular, transport and energy infrastructure.
to economists, SEZs are more successful in national economies with adequate
infrastructure, in particular, transport and energy infrastructure.
The SEZ
are also being created to restore the economy’s capacity to produce goods and
services competitively.
are also being created to restore the economy’s capacity to produce goods and
services competitively.
