IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v5y2021i10p528-543.html
   My bibliography  Save this article

An examination of the effectiveness of investment promotion practices in Victoria Falls Municipality (2010-217)

Author

Listed:
  • Dr David Foya

    (National University of Science and Technology, Department of Business Management, P.O. Box AC 939, Ascot, Bulawayo, Zimbabwe)

  • Merhluli Sibanda

    (National University of Science and Technology, Department of Business Management, P.O. Box AC 939, Ascot, Bulawayo, Zimbabwe)

Abstract

This study sought to examine the effectiveness of investment promotion practises in Victoria Falls Municipality over the period 2010 – 2017. The study targeted VFM because the municipality offers investment prospects in a number of sectors with tourism being the prime possible investment sector. The primary objective of the study was to explore the effectiveness of investment promotion practices of VFM. The study sought to answer some of the following questions: What are the factors that affect the investment promotion activities of VFM? How attractive are investment incentives offered by VFM? Are senior executives at VFM aware of the need of local authorities to promote and attract investment to their areas of jurisdiction? Is there any collaboration between VFM and other national statutory bodies responsible for investment promotion? The study is significant in the sense that it seeks to highlight the effectiveness of VFM investment promotion practices. There were 150 key people from which a sample of 80 individuals was selected using stratified random and purposive sampling techniques. The purposive sampling technique was applied to select respondents from VFM councillors, managers and other executives. The study applied both qualitative and quantitative methods. The main instruments used to collect data were questionnaire which complemented interviews. Data collected was analysed using interpretive skills and descriptive statistics. The study found that the absence of a municipality specific IPA was one of the major factors affecting investment promotion activities of VFM. The study further established that the investment policies, procedures, by-laws and regulation of VFM were not supportive to investment promotion. In view of these findings, the study recommended that due to existences of unique niche opportunities in local authorities, these should consider establish local authority specific IPAs instead of relying on the national IPA that is the Zimbabwe Investment Authority. The study further recommended that the Victoria Falls Municipality should immediately take advantage of being tourism Special Economic Zone and Work with other investment promotion statutory bodies to come up with tourism specific investment packages.

Suggested Citation

  • Dr David Foya & Merhluli Sibanda, 2021. "An examination of the effectiveness of investment promotion practices in Victoria Falls Municipality (2010-217)," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(10), pages 528-543, October.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:10:p:528-543
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-5-issue-10/528-543.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/virtual-library/papers/an-examination-of-the-effectiveness-of-investment-promotion-practices-in-victoria-falls-municipality-2010-217/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Scott, Allen J. (ed.), 2001. "Global City-Regions: Trends, Theory, Policy," OUP Catalogue, Oxford University Press, number 9780198297994.
    2. Robert Whyte & Carlos Griffin, 2014. "Promoting Foreign Investment in Fragile and Conflict-Affected Situations," World Bank Publications - Reports 20432, The World Bank Group.
    3. VINTILĂ Denisia, 2010. "Foreign Direct Investment Theories: An Overview of the Main FDI Theories," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Constance Carr & Markus Hesse, 2020. "When Alphabet Inc. Plans Toronto’s Waterfront: New Post-Political Modes of Urban Governance," Urban Planning, Cogitatio Press, vol. 5(1), pages 69-83.
    2. Mace, Alan & Holman, Nancy & Paccoud, Antoine & Sundaresan, Jayaraj, 2015. "Coordinating density; working through conviction, suspicion and pragmatism," LSE Research Online Documents on Economics 56768, London School of Economics and Political Science, LSE Library.
    3. Altenburg, Tilman & Schmitz, Hubert & Stamm, Andreas, 2008. "Breakthrough China's and India's Transition from Production to Innovation," World Development, Elsevier, vol. 36(2), pages 325-344, February.
    4. Godwin Okafor & Jenifer Piesse & Allan Webster, 2017. "FDI Determinants in Least Recipient Regions: The Case of Sub†Saharan Africa and MENA," African Development Review, African Development Bank, vol. 29(4), pages 589-600, December.
    5. Büch, Martin-Peter & Maennig, Wolfgang & Schulke, Hans-Jürgen (ed.), 2012. "Sport und Sportgroßveranstaltungen in Europa - zwischen Zentralstaat und Regionen," Edition HWWI, Hamburg Institute of International Economics (HWWI), volume 4, number 4.
    6. Ananya Roy, 2009. "The 21st-Century Metropolis: New Geographies of Theory," Regional Studies, Taylor & Francis Journals, vol. 43(6), pages 819-830.
    7. Diane-Gabrielle Tremblay & Juan-Luis Klein, 2012. "Metropolitan structures of decision making, governance and policy coordination: the role of social actors in Montreal," Chapters, in: Peter Karl Kresl & Daniele Ietri (ed.), European Cities and Global Competitiveness, chapter 6, pages 99-119, Edward Elgar Publishing.
    8. Terje Wessel, 2005. "Industrial Shift, Skill Mismatch and Income Inequality: A Decomposition Analysis of Changing Distributions in the Oslo Region," Urban Studies, Urban Studies Journal Limited, vol. 42(9), pages 1549-1568, August.
    9. Dave Valler & Juliet Carpenter, 2010. "New Labour's Spaces of Competitiveness," Local Economy, London South Bank University, vol. 25(5-6), pages 438-456, August.
    10. James Ike Ugwu & Sergius Nwannebuike Udeh, 2018. "Influence of Foreign Direct Investment on Exchange Rate and Domestic Investment in Pre- and Post- IFRS Adoption Periods of Selected SubSaharan African Countries (1999-2015)," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(3), pages 1-16, July.
    11. Andrés Rodríguez-Pose & Riccardo Crescenzi, 2008. "Mountains in a flat world: why proximity still matters for the location of economic activity," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 1(3), pages 371-388.
    12. José G. Vargas-Hernández & Carlos A. Hinojosa Gómez, 2008. "The Transfer of Governance from the nation state to a corporate global economy," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(2), pages 255-266.
    13. Ivan Turok, 2009. "Limits to the Mega-City Region: Conflicting Local and Regional Needs," Regional Studies, Taylor & Francis Journals, vol. 43(6), pages 845-862.
    14. Zacharias Papanikolaou & Fani Kefala & Christos Karelakis & George Theodosiou & Apostolos Goulas, 2022. "Cities in Competition: Is There a Link between Entrepreneurship and Development?," World, MDPI, vol. 3(4), pages 1-15, November.
    15. Jennifer Robinson, 2011. "Cities in a World of Cities: The Comparative Gesture," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 35(1), pages 1-23, January.
    16. Lee, Ho-Sang, 2009. "The networkability of cities in the international air passenger flows 1992–2004," Journal of Transport Geography, Elsevier, vol. 17(3), pages 166-175.
    17. Lee Pugalis & Alan R. Townsend, 2014. "The emergence of ‘new’ spatial coalitions in the pursuit of functional regions of governance," Regional Science Policy & Practice, Wiley Blackwell, vol. 6(1), pages 49-67, March.
    18. Roberta Gemmiti & Luca Salvati & Silvia Ciccarelli, 2012. "Global City or Ordinary City? Rome as a case study," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 2(2), pages 1-91.
    19. John Harrison, 2008. "Oecd Territorial Reviews: Competitive Cities in the Global Economy – Edited by Lamia Kamal‐Chaoui," Growth and Change, Wiley Blackwell, vol. 39(1), pages 177-179, March.
    20. Kunofiwa Tsaurai, 2018. "Investigating the Impact of Inflation on Foreign Direct Investment in Southern Africa," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 14(4), pages 597-611, AUGUST.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:5:y:2021:i:10:p:528-543. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.