Emmerson Njanjamangezi, Group Features Editor 
ZIMBABWE Investment and Development Agency (ZIDA) says the development of an operationalisation framework for the Victoria Falls Special Economic Zone (SEZ) has received a huge boost from coordination with the International Finance Corporation (IFC).
IFC — a sister organisation of the World Bank and member of the World Bank Group — is the largest global development institution focused exclusively on the private sector in developing countries.
Doug Munatsi, ZIDA chief executive
ZIDA chief executive Douglas Munatsi told The Financial Gazette this week that the IFC had made strides in the development of a destination plan for Victoria Falls.
“We had a very successful stakeholder engagement exercise involving the business community in the Victoria Falls and the key government entities last month in collaboration with the Ministry of Environment, Climate Change, Tourism and Hospitality Industry.
“In addition, the Ministry of Tourism has now received the final document on the Destination Development Plan for the City and the vision for the development from the IFC and its appointed consultants FreedThinkers.”
The Victoria Falls Special Economic Zone was first mooted in 2013 in a bid to attract foreign direct investment in the country. Since then, there have been several near misses with regards to commencing the ambitious economic plan for the resort town.
Last year in November, the government announced that a consultant to draw up a strategic spatial structure plan had been found.
But responding to this publication over a re-advertisement for the visual concept blueprint for The Victoria Falls SEZ in the Government Gazette, Munatsi said ZIDA was not satisfied with the first bids for the plan.
“The initial submissions did not fully meet the requirements of public procurement and the Agency decided to open it up again for consultants to resubmit and or new consultants to show interest as well.
“There is no drawback to the SEZ, timing of the expression of interest has been largely based on collation of information and also ensuring that there is adequate data and documentation that will guide the Consultant/s as they work towards the crafting of this strategic visual concept and plan for the special economic zones.”
In addition, Munatsi said ZIDA was preparing an analysis of economic factors that are likely to impact the development, as additional information for the consultants who will develop the strategic spatial plan.
“The timing of the visual concept, while slightly delayed due to the need to meet procurement regulations, is still on track. The development of any successful SEZ is dependent on good planning and ability to obtain the right kind of investment into the spaces – otherwise it will be a white elephant in which real estate is developed but no impactful economic activity is seen.
“It is also important to note that this particular SEZ is a different kind driven by tourism – and lying in World Heritage space – too fast a development with no structured guidelines or clearly set out visions and plans is likely to have a negative impact on the entire planned seven node tourism development,” Munatsi added.
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