Institution of Special Economic Zones in Zimbabwe: Lessons from the international experience and implications for tourism zone development: paper presented at the Midlands State University 1st International Research Conference: Driving Socio-Economic Development through Value Addition and Sustainable use of Resources, held at Elephant Hills Resort, Victoria Falls, Zimbabwe 14-16 July 2015

Abstract

The introduction of Special Economic Zones (SEZs) in Zimbabwe is currently a topical issue. The success of the ZIMASSET Plan in growing the economy depends on how much investment the country is able to attract from within and outside its borders. Special Economic Zones are renowned for their ability to attract Foreign Direct Investment (FDI) from developed countries. This paper’s main thrust is to generate more debate and enthusiasms among stakeholders in SEZ development. The paper gives background information to the introduction of SEZs in Zimbabwe, and discusses the objectives and benefits of SEZS to developing countries and more specifically Zimbabwe. A literature survey revealed the African and Asian experience with SEZs. In the process, common mistakes that Zimbabwe must avoid are given and key success factors are highlighted. The article then attempts to build a case for the establishment of a tourism zone in Victoria Falls. The Chinese experience clearly support the conduciveness of a tourism zone in Victoria Falls since it is located strategically at a border with three countries, is part of the Kavango-Zambezi Transfrontier Park and already has a refurbished international airport and one of the wonders of the world, the falls.