Home Business Local, international firms to take up space in special economic zones

Local, international firms to take up space in special economic zones

0
Local, international firms to take up space in special economic zones

Story by Bruce Chahwanda

THE government is confident that local and international export firms will take advantage of the existing Special Economic Zones to invest and boost productivity.

The government created Special Economic Zones in various provinces across the country in a bid to attract investments from local and international companies.

Harare’s Sunway City is one of the special economic zones which now boasts several viable companies, while some are setting up structures.

Harare Metropolitan Minister of State for Provincial Affairs and Devolution, Senator Charles Tawengwa and his delegation toured the special economic zone this Tuesday to assess the levels of investment.

“We have seen that the company is ready for investors and space is in abundance for export companies and others that might want to set up shop here. We hope the City of Harare will come on board,” he said.

Sunway City board chairperson, Dr Linos Makumbe said more than 20 firms are operating within the zone, with more expected to come on board.

“We are looking forward to collaborating with companies within and outside Zimbabwe. So far, we have more than 20 firms engaged in manufacturing, while others are preparing for export,” he said.

A Special Economic Zone is a designated geographical area where business activity is subject to different rules compared to the rest of the economy, with the government offering attractive incentives to lure investors.