The Sunday News
Leonard Ncube , Victoria Falls Reporter
THE Minister of State for Matabeleland North Provincial Affairs and Devolution, Cde Richard Moyo, has said the 2022 national budget should prioritise setting aside resources specifically for development of Victoria Falls as the country’s tourism resort and Special Economic Zone (SEZ).
Victoria Falls is the gateway into the province and its tourism economy is key to the province’s Gross Domestic Product (GDP). Giving welcome remarks at the start of the 2022 pre-budget seminar yesterday, Cde Moyo said Victoria Falls is Zimbabwe’s tourism hub hence the need for the national budget to strive to support the resort city in terms of enhancing access to major regional markets particularly the Sadc and Comesa regions, as well as ensure its sustainability of the city’s SEZ status.
“As leadership we are aware of most of the urgent and critical needs of the people of Zimbabwe. However, our major challenge lies with resource mobilisation especially how to grow the cake from the current $420 billion. Usually in any budget, the demands of the people outweigh the available resources and it is my fervent hope that this seminar will end on a high note having managed to effectively engage and proffer strategic interventions that will help grow our national cake.
“Given that the pre-budget seminar is being held in Victoria Falls, it is my fervent hope that these three days will boost economic activities in this resort city. As a city we are already a safe destination in terms of having achieved herd immunity. We therefore take advantage of that achievement and look forward to the 2022 national budget addressing some of the sticky issues in this resort city,” said Cde Moyo.
Victoria Falls was declared an SEZ a few years ago and opened the country’s first foreign currency stock exchange last year.
“The discussions at the seminar must focus on key strategic revenue raising measures and interventions which will go a long way in growing our national cake. I believe that the Victoria Falls Stock Exchange is central to economic development particularly growing our revenues.
“It is my expectation that the 2022 national budget shall set aside resources to support the operationalization of the SEZ status of the city as it will be a key enabler to the recovery and growth of the tourism sector and other downstream economies. The people of Victoria Falls are hopeful that this project once funded will contribute to the turning around of the town and in turn of the economy,” said Cde Moyo.
The tourism sector continues to be an engine for wealth creation in Zimbabwe and is projected to grow by 6,4 percent this year riding on domestic tourism. Cde Moyo said Government should also continue to support the tourism industry through financial assistance under the Covid-19 stimulus package in order to achieve sustainable recovery of the sector.
He said there is an urgent need to reform some investment laws and regulations that are barriers to improving the ease of doing business, as he called for strategies that seek to improve the investment climate in Zimbabwe through reducing the number of days taken for one to register a company or business entity.
The seminar which ends tomorrow is being held under the theme: “Reinforcing sustainable economic recovery and resilience” and Members of Parliament and Cabinet Ministers are attending.
Cde Moyo said the role of Parliament in the budget process is very crucial given that Parliament is the custodian of the national purse. He called for compliance with the dictates of devolution legislation as the devolution funds will certainly go a long way in ensuring development in the province. — @ncubeleon
