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Monday, June 5, 2023

Vic Falls Special Economic Zone takes shape

Story by Tichaona Kurewa

The City of Victoria Falls’ Special Economic Zone is taking shape, with the Zimbabwe Investment and Development Agency revealing that the master plan is being drawn up.

Duduzile Shinya, Zimbabwe Investment and Development Agency’s Chief Finance and Corporate Affairs Officer said, “From the three companies shortlisted, we have now shortlisted the final one, but I cannot disclose at this point in time. The company will design the master plan, that’s basically ensuring that we cover all the aspects of the town that need to be included in the zone. For example, there is an international services centre, where it is going to be located, there is one hotel, there is a hospital which we want to cover medical tourism, and there are other facilities like golf courses and shopping centres. We want to know where all these are placed.

“So this master plan is in the process of being developed. Once that is developed, the infrastructure work can then begin, where we have the development of your base infrastructure, your road networks, sewer, water all of that comes into play. Construction works will start in the first quarter of 2023.”

The progress being made in the implementation of the Special Economic Zone has been met with excitement in the City of Victoria Falls.

“As a city, this is a very good development in the sense that there is employment creation is being made and as a city, we are also able to get some rates from it. This will also assist Zimbabwe and beyond that, it shows that Zimbabwe is investable as you witnessed that we had another listing on the Victoria Falls Stock Exchange,” said Councillor Tonderayi Mutasa, City of Victoria Falls Acting Mayor.

The Special Economic Zone will be established in the Masuwe, which covers an area of 1200 hectares.

A Special Economic Zone is an area which is designed to attract massive investment through incentives such as tax breaks.

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