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Sithandazile Moyo
Business Reporter
ZIMBABWEAN businesses should be competitive to attract investors, the European Union Ambassador, Aldo Dell’Ariccia, has said.
Speaking at a Trade and Investment Symposium in Bulawayo on Thursday, he said a lot of investors were willing to come and invest in the country but there was a need to do a lot of homework.
“Many investors are willing to come and invest in different sectors and businesses but there is a need to do a lot of homework so that the investors know what to expect and at the same time businesses know what to expect,” he said.
Dell’Ariccia said there were ready markets in Europe that Zimbabwe could take advantage of and explore.
“Zimbabwe has access to EU markets duty free and this trade has continued to double since 2009,” he said.
He said the EU Investment Bank was willing to support businesses in Zimbabwe but could not loan directly to the government because of the arrears and debts the country has at the bank.
“The EU Investment Bank can only loan to the private sector and not the government not because of sanctions but the arrears the country has at the bank,” he said.
Dell’Ariccia said there were certain policies that needed clarity because most investors were sceptical of them.
“All policies need to be clarified, especially the Indigenisation policy so that when investors come they fully understand what is in for them to attract more of them,” said Dell’Ariccia.
He said the most important thing to attract investors was to guarantee them power to ensure that production is not disturbed.
“If you want the Special Economic Zones to be a success and attract more investors, there is a need to revive the energy sector to ensure that production is not disturbed by constant power cuts,” said Dell’Ariccia.
He said investors were concerned about the availability of electricity all the time. Dell’Ariccia commended Bulawayo industry for having a history of excellence and encouraged businesspeople to continue producing quality products.
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