The government has identified five areas as potential special economic zones set for establishment in the second half of the year in line with efforts to introduce a fully fledged one stop shop across the country.
While the identification process has been finalised, it is being anticipated that the move will also enable the government to urgently facilitate the establishment of the Zimbabwe Investment Development Authority (ZIDA).
Zimbabwe Special Economic Zones Authority Chief Executive Officer Mr Edwin Kondo confirmed to ZBC news this Monday that the five areas will be specialising in the fields of chrome, water systems and provision, infrastructure and agro-processing among other business units.
“We are doing our best to ensure that we can be in a position to transform the process to be better and unlock the much needed investments portfolio in strategic sectors or industries,” he said.
The government is forging ahead with the processes of special economic zones to provide incentives to some companies that have a potential of positively contributing to the overall economic development.
Some of the incentives for firms operating within the designated zones include duty free on imported raw materials, exemption of non-residents tax and zero rate corporate income tax for the first five years of operation among others.