ZTE seeks to invest in SEZs
ZTE Corporation, a global leader in telecommunications and information technology, has expressed interest in investing in Special Economic Zones (SEZs) in Zimbabwe.
Information Communication Technology, Postal and Courier Services Minister, Supa Mandiwanzira, revealed this in an interview following a recent visit by the Chinese global firm’s senior delegation, which came to appreciate the various opportunities that are available in the country.
“As you are aware ZTE is among the largest telecommunication players in the Information and Communication Technology (ICT) sector.
“Their global CEO was in the country looking at opportunities around rolling out of 4G and 5G technology,” said Min Mandiwanzira.
“They also want to take advantage of the excellent relations with the Government of Zimbabwe and are looking forward to investing in different areas of SEZs in the country. In Harare they have identified a place.”
The adoption of the SEZ model is expected to help attract increased foreign direct investment through a package of incentives for designated zones. Bulawayo, Harare, Victoria Falls and Tokwe Mukosi have been identified as pilot areas for SEZs, which are expected to be expanded to other areas in the country.
In May this year, ZTE Corporation’s market capitalisation reached $9.9 billion with turnover of around $15.08 billion. Meanwhile, Minister Mandiwanzira said the Chinese company wants to work with different companies like Telecel, NetOne, Econet and TelOne for partnerships despite the challenges the country is going through. — @Kiyaz_ Cool