Industry players say the implementation of Special Economic Zones (SEZ) is taking longer than anticipated, owing to liquidity challenges and delays by the government to appoint a board.
The signing into law of the SEZ Bill brought optimism within the business fraternity that the implementation of the concept will get the country’s economy back on track.
A few months after the coming into effect of the law, little progress has been made on the ground regarding the inflow of foreign direct investment.
According to Confederation of Zimbabwe Industries (CZI) CEO, Mr Clifford Sileya, lack of funding is affecting the processes for the setting up of the industrial hubs.
The special economic zones will be dominated by export-oriented industrial activities which will take place either by way of manufacturing, processing or assembling goods for both domestic and export markets.
Government bureaucracy also seems to be affecting the setting up of various structures which will oversee the coming of Special Economic Zones into fruition.
Some of the areas which are earmarked for special economic zones include Bulawayo, Victoria Falls and Harare, and the government has plans to spread the Special Economic Zones to all the country’s provinces.