Editorial

A new era is coming

Burundi launches a special economic zone (SEZ). This new economic framework aims at boosting Burundi’s economy that has long been weakened by cyclical crises the country went through. This part of the Great Lakes of Africa largely depends on imports. Over 680,000 million Burundi francs worth of goods were imported during the first semester of 2018(OBR). That's fourfold the amount of exports during the same period. Imports are subject to tariff and non-tariff barriers. As a result, prices soar. The ‘’Zone Economique Spéciale Burundi’’ (ZESB) then comes as an answer. With it, the business environment will flourish. The reason is simple. Investors operating from the zone will be exempt from taxes. Therefore, the cost of manufacturing goods will decrease and so will be their prices on the markets. This will lead to an affordable cost of living. Furthermore, the special economic zone will drive economic growth and jobs’ creation. Can we say that the ZESB is a good deal that Burundi offers to the world? Of course, yes. One of its main objectives is to revive the industrial sector and to promote exports. The business model is meant to be Burundi’s window for foreign investors. All products manufactured within the zone will carry the "Made in Burundi" label. The ZESB kicks off as a result of a business partnership between the State of Burundi and private foreign investors. The latter have been appointed as the management authority by the State of Burundi to establish, implement and manage the special economic zone. Indeed the British businesswoman Anita Roddick says she wants ‘’something not just to invest in. I want something to believe in’’. Therefore, one can have faith in ZESB for its standards and trade policies set up to operate the zone.