05 Aug 2015

Legislators have thrown their weight behind the Special Economic Zones Bill 2015, Number 10 of 2015.

The bill, which was debated Tuesday (August 4) and went for committee stage, sought to provide an investor friendly business environment, that would make Botswana the preferred destination for both domestic and Foreign Direct Investment (FDI).

The main objective of the policy was to diversify the economic and export base of Botswana, into sectors that would continue to grow, long after diamonds had run out, according to Minister of Trade and Industry, Mr Vincent Seretse.

Mr Seretse thanked the MPs for support of the bill.

He said he was impressed by his colleagues, for effectively suggesting the good intentions of the bill, such as job creation especially for young people and attraction of FDI.

When debating the bill earlier on, the Vice President, Mr Mokgweetsi Masisi, said the envisaged legislation would create job opportunities. 

In essence, he said, the special economic zones would unlock the barriers presented by investors, and industries that reduce the opportunities, for either getting work or responding to work opportunities, regionally and internationally.

Mr Masisi said the bill contained specifics, which suggested how the special economic zones would look like, and the benefits it came with, which investors would desire.

“It is a very important pre-requisite for unlocking jobs,” he said.

Mmadinare MP, Mr Kefentse Mzwinila said the bill would help in the balance of trade, as industries that would attract in special economic zones, were those, which were export oriented. 

He said the policy, interrelated well with other government policies in place.

He said the purchasing power of those employed in the special economic zones, would have the trickledown effect on the rest of the economy, and by doing so; there would be an increase of fluidity within the economy.

Mr Mzwinila said the economy would be diversified through the zones, and that would create long term sustainable market for Botswana products.

Palapye MP, Mr Moiseraele Goya encouraged the ministry responsible for the bill to benchmark in other countries, where the special economic zones were used to safeguard failure, as some had dismally failed in other countries.

Maun West MP, Mr Tawana Moremi said government should work hard in an effort to ease the way business was done in the country, and not to think that special economic zones would be a solution. Ends