Stakeholders have called for the creation of Special Economic Zones (SEZs), saying they drive industrialisation, anchor economic growth and facilitate trade.
Speaking on the sidelines of the just concluded SADC Industrialisation Week and Exhibition, Director of the Economic Commission for Africa (ECA) Sub-Regional Office, Eunice Kamwendo, highlighted that SEZs are an important policy tool to support private sector development, including micro, small and medium-sized enterprises (MSMEs).

She said SEZs should align with a country’s comparative and competitive advantage, and be supported by a conducive policy and regulatory environment, including the integration of these zones into broader national development plans and policy frameworks; adding that strong political will is necessary to secure bilateral investment commitments to the zones by providing confidence to investors.

Stressing that stakeholders should consider the specific needs, priorities comparative and competitive advantages of each country in deciding on specific SEZs approaches, she underlined that it is crucial to introduce transparent and harmonised policy, legal, regulatory, and institutional frameworks for transboundary SEZs to facilitate the growth of regional value chains.

Also speaking, the United Nations Resident Coordinator, Edward Kallon lauded the Economic Commission for Africa for supporting regional structural transformation, development and growth through various targeted initiatives in member states.

He said Africa should leverage its mineral wealth for sustainable industrialisation and the creation of sustainable jobs while adhering to environmental and social standards, adding that this requires strong governance frameworks, elaborate environmental regulations and the active participation of all stakeholders.

According to him, by harnessing the potential of SEZs, supporting MSMEs, and leveraging the support of development partners, Africa can build resilient economies that are both inclusive and sustainable.