Entry into force of Special Economic Zones law
01 Nov 2016
The Special Economic Zones Act [Chapters 14-34], which came into force in November 2016, provides for the establishment of the Zimbabwe Special Economic Zones Authority. Functions of the Authority include establishing SEZs, which carry out export-oriented industrial activities; attracting FDI into SEZs; administering, controlling, and regulating SEZs; providing and maintaining services, facilities and structures necessary for efficient operation of SEZs; ensuring the provision of adequate fencing and enclosures to segregate SEZs from the customs territory; approving and regulating activities, which may be carried on in SEZs; granting investment licenses for investment in SEZs; granting permits to developers of SEZ areas for infrastructure; constituting a single institution through which applications for the approval of investment in SEZs would be made and through which all necessary approvals, licences and permits may be granted or issued in respect of approved investments; monitoring and evaluating the implementation of approved investments in SEZs and submitting reports to the Board concerning such investments;
The operations of the Authority are to be controlled and managed by a board to be known as the Zimbabwe Special Economic Zones Board.
The Act further provides for the establishment of SEZs, and the administration, control, regulatory measures and incentives in connection with SEZs.
Nature of measure:
Type:
-
Promotion and facilitation (Special economic zones)
Industry:
Inward FDI:
No
Outward FDI:
No
Sources:
