Source: Al Bayan
The Zimbabwean news website “News Day” has highlighted Dubai’s experience in prosperity and economic diversification, emphasizing that Zimbabwe can learn from Dubai by encouraging its own infrastructure projects. The site emphasized that Zimbabwe should follow in Dubai’s footsteps and continue its infrastructure projects even if the results are not immediately apparent. It affirmed that over time, the country can rehabilitate major highways, flyovers, dams, airport expansions, and power station developments, just as Dubai has done, which will contribute to its economic growth.
The site stated that Zimbabwe can allocate more expenditure to such projects, but the costs should not be exorbitant, and these projects should be completed on time with high quality.
Dubai has established free trade zones offering tax and customs exemptions to foreign companies, attracting foreign investors and contributing to export growth. The site added, “Zimbabwe can do the same by creating similar free trade zones to attract foreign investment and increase exports. These zones can include areas like a multi-commodity trading center, encouraging traders to bring their goods to Zimbabwe instead of elsewhere.”
The site also suggested an idea for Zimbabwe to develop the proposed new city in Mount Hampden into a kind of free trade zone. For example, the government could decide to impose a lower 4% corporate tax rate on companies that establish their headquarters and primary operations in Mount Hampden, thereby accelerating construction projects in the area.
Furthermore, the site pointed out that Dubai has benefited from its central location between Africa, Europe, and Asia to become a center for re-exporting. Zimbabwe can do the same by attracting companies looking for a suitable location to access multiple markets. It emphasized that Dubai invested in education and healthcare to build a skilled and healthy workforce, and Zimbabwe can follow suit to create an attractive business environment for companies and investors.