Tourism sector has huge potential to drive economic growth and development

Government is committed to facilitating investment in the tourism and hospitality industry as it has immense potential to drive economic growth and development of the country, a Cabinet Minister said on Friday.

Minister of Tourism and Hospitality, Barbra Rwodzi, said this during the launch of the tourism investment matchmaking platform in Bulawayo.

The matchmaking platform, which is the brainchild of the Zimbabwe Investment and Development Agency (ZIDA) with assistance from the Zimbabwe Tourism Authority (ZTA), aims to provide equal opportunities for all stakeholders to participate and benefit from the tourism sector under one roof using an internet application.

It serves as a space for local and foreign investors, operators and communities to explore and access tourism investment opportunities.

Rwodzi said the platform is testament to the commitment of the government to transparency, accountability and inclusivity.

“By supporting this initiative, we are creating an enabling environment that encourages investment, job creation and sustainable resource management.

“I would like to express my gratitude to the Zimbabwe Investment and Development Agency for their dedication and efforts in spearheading the Tourism Investment Matchmaking platform. Together we can unlock the full potential of our tourism and hospitality and can create a brighter future for all Zimbabweans,” she said.

Rwodzi said the endorsement of the initiative aligns with the broader goals of the government outlined in the National Development Strategy (NDS1).

Speaking on the same occasion, ZIDA chief executive officer, Tafadzwa Chinamo, said investment is central to growth and sustainable development, adding that it expands an economy`s productive capacity and drives job creation and income growth.

“We appreciate that one-size approach does not fit all sectors. In collaboration with the Zimbabwe Tourism Authority, we are developing tailored activities, approaches and strategies that are suitable for the tourism sector,” he said.

Chinamo said the platform is designed to bring together tourism promoters and investors seamlessly and efficiently.

“Our goal is to make it easier than ever for investors to find the right opportunities in the tourism sector and for promoters to access the capital and expertise they need to grow their businesses.

“On the other hand, our platform allows local and international investors to connect with tourism promoters in Zimbabwe and express their investment interest to them,” he said.

To access the platform, Chinamo said, investors and tourism promoters need to register and submit relevant information, such as their contact details, investment, and additional information as per each interest.

According to the NDS1, the tourism sector is one of the key pillars of the economy and expected to contribute at least US$600 million to total capital investments as the country targets a US$5 billion tourism economy by year 2025.-ebusinessweekly