THE Zimbabwe International Trade Fair (ZITF) Company says the country does not have statistics to quantify investment inflows during its annual exposition due to poor survey.
Appearing before the Parliamentary Portfolio Committee on Industry and Commerce on Tuesday, ZITF chairperson Bekithemba Nkomo said Investment generation information was difficult to quantify as there has never been a commissioned economic impact assessment study in the country.
“Participants will not reveal the value of business done, it is a poorly answered question in all surveys year after year,” Nkomo said.
Nkomo said 72% of respondents invited to participate in a poll carried out by ZITF did not make contributions, making it difficult to compile investment statistics.
He said ZITF was part of the country’s overall trade promotion drive, but companies participating at the ZITF don’t disclose all the details and benefits derived from the trade show.
Nkomo said ZITF efforts were intertwined with other trade promotion agencies, organisations and government departments in the country.
“Because of these intricacies, ZIA investments project documents do not detail origination of the deal,” he said.
He, however, said the net exhibition area occupied compared to what was available for sale has been above 90% since 2010, peaking in 2013 at 93, 96%.
Nkomo said gate admissions on business days only increased to over 37 000 in 2013 from 21 000 in 2010.
Total exhibitor participation direct and indirect has averaged 778 from 2010 to 2013 and foreign exhibitor participation has averaged 23% of total exhibitors in the same period.
Nkomo said ZITF has established relationships with various export promotion and investment facilitators through which it exposed exhibitors to these agreements.
“ZITF exposes Zimbabwean products to a wider audiences potentially leading to new export opportunities for the country and it provides platforms for the implementation of a number of bilateral trade and investment agreements,” Nkomo said.
He added that in April 2012, total bed occupancy of 14 471 beds was recorded in Bulawayo.