Bulawayo mayor, Councillor Solomon Mguni has urged potential investors to take advantage of the Special Economic Zones (SEZs) to invest in the city.
SEZs are geographically designated areas of the country which are set aside for specifically targeted economic activities to promote national economic growth by using support measures to attract both foreign and domestic investments.
Addressing the Zimbabwe International Trade Fair (ZITF) exhibitors and business people at a welcome reception, Tuesday, Cllr Mguni emphasised on the need for foreign direct investment to revive the economy.
“The special economic zones program is anticipated to ensure that the key industries such as beef and leather, textile and clothing, engineering and food processing are revived, thereby, restoring Bulawayo’s status as the industrial hub of Zimbabwe,” said Cllr Mguni.
The mayor said the high turnout for the ZITF is a positive indication of the potential in the country`s economy.
“Your presence in this event is indicative of the confidence you have in Zimbabwe and Bulawayo in particular. As part of the new dispensation under the leadership of President Emmerson Mnangagwa, I can assure you that Bulawayo is indeed open for business and there are countless opportunities for investment in the city that have been availed for you to take advantage of,” he said.
“Our main emphasis this year at the ZITF is on the special economic zones program which was introduced to attract foreign direct investment to Zimbabwe and we are proud to say that here in Bulawayo, four of our areas have been declared special economic zones and these are Belmont, Donnington, Umvumila and Kelvin industrial area.
“I call upon investors, big or small to come and partner in the implementation of the small economic zones program,” he said.
Cllr Mguni put emphasis on the ethnic diversity of the city and urged the exhibitors to make time to visit local tourist sites.
“Bulawayo has a strong historical background and is characterised by several ethnic groups with a vibrant culture. May you take some time to visit our heritage sites,” he said.
Recently, the city of Bulawayo hosted an investment conference where Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu urged the industrial sector to lure meaningful investment by putting up basic economic structures.
At the conference, Minister Ndlovu emphasised that Bulawayo has vast opportunities for driving economic growth as it is the industrial hub for the country.