Story by Mercy Bofu-Matinha
MASVINGO-THE government has announced its intention to reduce the cost and complexity of acquiring business licences, as part of broader measures to improve the ease of doing business and attract both local and foreign investment.
Speaking at the official opening of the Masvingo Investment Conference this Friday, Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, said a set of revised regulations will be unveiled in the coming weeks.
“As a government, we understand the impact of licensing fees and procedures or steps to be food for one to acquire an operating business licence; hence in the next two weeks, we are going to announce revised easy of doing business measures, which include reducing licencing costs and steps to be followed to acquire licences,” he said.
The Masvingo Investment Conference, a key platform for business engagement and economic dialogue, brought together government officials, investors, and industry leaders to unlock the province’s economic potential.
As part of the broader national strategy, Professor Ncube also revealed plans to accelerate the rollout of Special Economic Zones (SEZs) in all provinces to decentralise investment and promote equitable economic growth.
“We are also accelerating plans to designate Special Economic Zones (SEZs) across all provinces as part of efforts to decentralise investment and spur provincial growth,” he said.
Echoing the same sentiment, Deputy Chief Secretary in the Office of the President and Cabinet, Dr Willard Manungo, emphasised that the government is focused on shifting the economy towards value addition and beneficiation of natural resources.
“Our thrust is on value addition of our natural resources, hence we are moving from being a resource-based economy to focusing on value addition and beneficiation. Another important component of the investment thrust is compliance with standards and regulations,” he said.
Masvingo Province, rich in both natural and human capital, is aiming to grow into a US$8 billion economy by 2030, according to the Minister of State for Provincial Affairs and Devolution, Honourable Ezra Chadzamira.
“As a Province, we are targeting an USD8 billion economy by 2030. This vision demands that all the sectors of society, from the Government to development partners and the private sector, engage in steering the economy on the growth path to realise an average of 5% GDP growth rate. This conference is a platform for engagement, for innovation, and most importantly, for investment. We are here to present Masvingo as not only open for Business, but ready to lead in business,” he said.
As part of the conference activities, government officials toured Simbi Steelmakers, a major industrial player in the province, specialising in the production of hot rolled steel, cast iron, and steel castings.
The event also featured a product exhibition, with several companies showcasing innovations and services aimed at driving industrial growth and job creation.
