Four areas have so far been granted special economic zones (SEZ) status by the regulatory authorities as Zimbabwe seeks to increase economic activities and foreign exchange inflows.
This comes as SEZs, that are being aimed at increasing business or economic activities in key strategic areas across the country, are taking shape.
It has emerged that four areas that have so far been granted the special economic zones are Beitbridge that has been mandated with logistics and free trade, Victoria Falls specialising in tourism, Mutare concentrating in horticulture and Bulawayo focusing on the manufacturing sector.
Zimbabwe Special Economic Zones Authority CEO, Mr Edwin Kondo noted that considerations for other areas within the country’s provinces are still being assessed in line with the policy of decentralising business activities across the country.
Official data shows that foreign direct investments in Zimbabwe have in the past few years been averaging US$ 500 million per year compared to other neighbouring countries or economies that have been attracting external projects averaging US$2,5 billion annually.
However, experts say if implemented in the rightful manner, special economic zones will also result in Zimbabwe increasing the level or rate of investments.