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, Decembrie.
    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. Hausmann, Ricardo & Fernández-Arias, Eduardo, 2000. "Foreign Direct Investment: Good Cholesterol?," IDB Publications (Working Papers) 1319, Inter-American Development Bank.
    4. 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.
    5. Torfinn Harding & Beata Smarzynska Javorcik & Beata Smarzynska Javorcik, 2009. "A Touch of Sophistication: FDI and Unit Values of Exports," CESifo Working Paper Series 2865, CESifo.
    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. 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.
    2. Razin, Assaf & Goldstein, Itay, 2003. "An Information-Based Trade-off Between Foreign Direct Investment and Foreign Portfolio Investment: Volatility, Transparency and," CEPR Discussion Papers 3747, C.E.P.R. Discussion Papers.
    3. Desbordes, Rodolphe, 2007. "The sensitivity of U.S. multinational enterprises to political and macroeconomic uncertainty: A sectoral analysis," International Business Review, Elsevier, vol. 16(6), pages 732-750, December.
    4. Fernandez-Arias, Eduardo & Hausmann, Ricardo, 2001. "Is foreign direct investment a safer form of financing?," Emerging Markets Review, Elsevier, vol. 2(1), pages 34-49, March.
    5. Faria, Andr & Mauro, Paolo, 2009. "Institutions and the external capital structure of countries," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 367-391, April.
    6. 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.
    7. Bo Liu & Desheng Xue & Yiming Tan, 2019. "Deciphering the Manufacturing Production Space in Global City-Regions of Developing Countries—a Case of Pearl River Delta, China," Sustainability, MDPI, vol. 11(23), pages 1-26, December.
    8. Sèna Kimm Gnangnon, 2020. "Trade Openness and Diversification of External Financial Flows for Development: An Empirical Analysis," South Asian Journal of Macroeconomics and Public Finance, , vol. 9(1), pages 22-57, June.
    9. John Parr, 2015. "The city and the region as contrasts in spatial organization," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(3), pages 797-817, May.
    10. Reinhart, Carmen & Calvo, Guillermo & Fernandez Arias, Eduardo & Talvi, Ernesto, 2001. "Growth and External Financing in Latin America," MPRA Paper 9074, University Library of Munich, Germany.
    11. HaeRan Shin & Quentin Stevens, 2013. "How Culture and Economy Meet in South Korea: The Politics of Cultural Economy in Culture-led Urban Regeneration," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 37(5), pages 1707-1723, September.
    12. Anthony Goerzen & Michael Sartor & Kristin Brandl & Stacey Fitzsimmons, 2023. "Widening the lens: Multilevel drivers of firm corporate social performance," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(1), pages 42-60, February.
    13. Vicente Romero de à vila Serrano, 2019. "The Intrametropolitan Geography of Knowledge-Intensive Business Services (KIBS): A Comparative Analysis of Six European and U.S. City-Regions," Economic Development Quarterly, , vol. 33(4), pages 279-295, November.
    14. Khan, Muhammad Imran & Teng, Jian-Zhou & Khan, Muhammad Kamran & Jadoon, Arshad Ullah & Khan, Muhammad Fayaz, 2021. "The impact of oil prices on stock market development in Pakistan: Evidence with a novel dynamic simulated ARDL approach," Resources Policy, Elsevier, vol. 70(C).
    15. Robert R. Hewitt, 2014. "Globalization and Landscape Architecture," SAGE Open, , vol. 4(1), pages 21582440135, February.
    16. René Véron, 2010. "Small Cities, Neoliberal Governance and Sustainable Development in the Global South: A Conceptual Framework and Research Agenda," Sustainability, MDPI, vol. 2(9), pages 1-16, September.
    17. Michael Storper & Anthony J. Venables, 2004. "Buzz: face-to-face contact and the urban economy," Journal of Economic Geography, Oxford University Press, vol. 4(4), pages 351-370, August.
    18. Chris Wagner, 2020. "Deducing a state-of-the-art presentation of the Eclectic Paradigm from four decades of development: a systematic literature review," Management Review Quarterly, Springer, vol. 70(1), pages 51-96, February.
    19. Diemo Dietrich, 2004. "Financing FDI into Developing Economies and the International Transmission of Business Cycle Fluctuations," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 140(IV), pages 449-481, December.
    20. Michał Myck & Mateusz Najsztub, 2020. "Implications of the Polish 1999 administrative reform for regional socio‐economic development," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 28(4), pages 559-579, October.

    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.