Zimbabwe govt in indigenisation climbdown

Cabinet has instructed Tourism minister Walter Mzembi to run a pilot special economic zone (SEZ) project in Victoria Fall as the government attempts to lure investment into the country.

SEZ will be set up around the country where foreign investors will be exempted from complying with local empowerment laws.

According to sources the setting up of SEZ is an indirect acknowledgement by the Zanu-PF that empowerment laws are problematic, but for political reasons they cannot be scrapped.

VP Emmerson Mnangagwa said that the SEZs are expected to boost FDI and are part of government's efforts to create an investor friendly climate.