Vic Falls’ $1.2 bn project takes shape

Vice President Retired General Dr Constantino Chiwenga has presided over the ground breaking ceremony of $1.2 billion worth of investment projects in Victoria Falls which are set to transform the resort destination as a competitive international tourist’s destination and spur earnings as well as tourists traffic.

The four-pronged investment to be implemented by Dubai headquartered firm, Feonirichi will see the construction of a grand prix circuit, a convention centre, a shopping mall and a state-of-the-art medical resort.

The investment, which has been accorded the national project status and is set to be afforded special tax incentives, marks the pioneering projects for the Victoria Falls special economic zone.

The project was mooted during the 2018 Arabian Travel Market and three months down the line, a ground breaking ceremony has been held to mark the commencement of the initiative.

Vice President Chiwenga said the mega project is set to position the resort town, which is currently enjoying record numbers as an attractive destination, ensures product diversification and unlocks the full potential of the tourism sector.

Feonirichi Group CEO, Mr Prince Adebayo said the firm is privileged to be afforded a chance to contribute to the growth of the local tourism industry and announced that the hospital will offer free services for expecting mothers and children below the age of 13.

The Minister of Tourism and Hospitality Industry, Prisca Mupfumira and the Minister of State for Matabeleland North Provincial Affairs, Ambassador Cain Mathema said the investment is a result of the Zimbabwe is open for business drive and expressed confidence that it will set the tone for more investments into the special economic zone.

All the projects are expected to commence soon after the finalisation of the environmental impact assessment.

The convention centre is expected to ensure that the country bids for major international events while the grand prix circuit is set result in hosting of major motor racing events.

The ground breaking ceremony was graced by government officials, captains of industry, Zimbabwe Tourism Authority (ZTA) officials, the tourism industry, traditional leaders and Victoria Falls residents.

Source:  Vic Falls’ $1.2 bn project takes shape (29/07/18)

See Also

Victoria Falls Bits and Blogs (9th May 2018) Investor keen to bring Grand Prix to Victoria Falls.

Victoria Falls Bits and Blogs (2nd June 2018) Huge Boost for Vic Falls As UAE Investors to Build World Class Hospital, Motor Racing Course, Shopping Mall and a Hotel.

Victoria Falls Bits and Blogs (30th July 2018) Vic Falls’ $1.2 bn project takes shape.

Victoria Falls Bits and Blogs (27th September 2018) Construction of Grand Prix circuit in Vic Falls to go ahead.

Victoria Falls Bits and Blogs (4th June 2019) Vic Falls Grand Prix arena to boost tourism.

Victoria Falls Bits and Blogs (29th January 2020) New Vic Falls sporting facility a boom for sports tourism.

Victoria Falls Bits and Blogs (7th July 2021) Victoria Falls F1 circuit construction reaches major milestone.

Victoria Falls Falls Bits and Blogs (13th October 2022) Why a Formula One racetrack in Zimbabwe is a pipe dream.

Victoria Falls Bits and Blogs (16th October 2022) Victoria Falls F1-grade racecourse plans halted by High Court.

Read more on the Keep Victoria Falls Wild website.