GOVERNMENT will soon carry out consultations on the proposed Special Economic Zones (SEZ) as part of efforts to promote the new concept which is expected to stimulate economic growth, an official has said.
Victoria Mtomba
Speaking at the creating shared value (CSV) forum held yesterday Industry and Commerce minister Mike Bimha said government would provide an enabling environment for companies to benefit from the programme.
“SEZ concept paper is now in place and a roadmap which will lead towards the operationalisation of the concept has also been developed. We need to come up with our models in Zimbabwe,” Bimha said.
He said the consultations would enable government to prioritise sectors which need to be developed under the special economic zones. A SEZ is a geographical region that is designed to export goods and provide employment.
Moreover, the regulations usually contain measures that are favourable to foreign direct investment and a host of tax incentives.
In his 2014 National Budget Finance minister Patrick Chinamasa said SEZ would be developed drawing successful experiences from China, India, South Korea, Malaysia, Singapore and Dubai. The zones provide special trade incentives to stimulate local and foreign investment within the zone.
Bimha said for the country to prosper, a shared vision is imperative and it is only realistic if a set of common values is embraced.
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He said creating shared value is a concept where firms have policies and operating prices that enhance the competitiveness of a company. Bimha said creating shared value was more important than corporate social responsibility (CSR).
“CSR usually focuses on reputation, as the goods or services are given freely and might not be feasible for companies which are struggling. With low capacity utilisation for most companies in Zimbabwe, the CSV concept would be ideal since profitability and competitiveness are integral parts of the concept,” he said.
Speaking on the sidelines of the forum, Nestlé Equatorial African Region chief executive officer Ian Donald said the company believes in sustainability and creating value for communities and the companies.
Donald said the performance of Nestle Zimbabwe was solid though challenging as they are established in this market.
“We are managing to retain our consumers and we are holding on to our market share. It is very challenging but the strength of our brand helps us. Business is tight and disposable income is tight,” Donald said.
Nestle Zimbabwe managing director Kumbirayi Katsande said the forum was aimed at bringing together key players to discuss CSV.
The meeting was organised by Nestlé and the Confederation of Zimbabwe Industries.
