Players in the tourism industry have appealed for the extension of the Statutory Instrument exempting duty on key capital goods in order for the sector to achieve the envisaged double digit growth rate.
Increased touristsâ€™ arrivals and revenue from the tourism industry has raised hopes for the tourism industry to increase its contributions to the Gross Domestic Product to 15% by 2011.Â
Players in the industry however feel that government must revisit Statutory Instrument 60, which exempted duty on key capital goods imported by stakeholders in the industry.
Financial results released by some firms in the industry indicate that funding remains a major constraint hampering growth of the sector and upgrading of the existing facilities.
Zimbabwe Council for Tourism board member, Mr Francis Ngwenya confirmed that submissions have already been made to the relevant authority for the extension of the facility, which expired in February last year.
The Statutory Instrument 60 was gazetted prior to the 2010 World Cup to allow players in the tourism industry to import capital goods duty free so as to spruce up their facilities ahead of the soccer showpiece.
The expiry of the facility in February last year has restrained stakeholders in the industry to embark on major investment projects.