Chronicle Editor
Sikhulekelani Moyo, [email protected]
BUSINESS leaders have applauded the Zimbabwe Investment and Development Agency (Zida) for introducing online platforms to promote investment in mining and tourism, saying that the initiative should be extended to other sectors.
In 2023, Zida launched the online match-making platforms that link tourism and mining investors as part of measures to boost investment in these sectors.
In its 2024 State of the Industry Survey, Zimbabwe National Chamber of Commerce (ZNCC) said the establishment of an online “Investor Grievance Mechanism” platform is also expected to enhance the retaining of in-country investment by identifying and addressing challenges efficiently.
“Reforms such as those implemented by the Zida in 2023 to improve investment in the mining and tourism sectors should be extended to other sectors as well,” ZNCC said in a statement.
“Zida launched two digital platforms to woo foreign investment both in the mining sector and in tourism sector, called the Mining Claims Matchmaking Platform and the Zimbabwe Tourism Investment Matchmaking Platform, respectively.
“To access the platforms, investors are required to register and submit relevant information, such as contact details, investment objectives, and the type of mining claim they are interested in.”
Investors are also required to pay a registration fee to access the information on the matchmaking platform.
Once an investor’s registration has been approved, they will be able to view the registered mining claims and express their interest on the platform.
These are some of the measures being suggested by the business lobby group to improve the ease of doing business.
The organisation said more reforms are still needed in the licensing regime to enhance efficiency in public service delivery.
They said streamlining the procedures involved in starting a business, getting electricity, dealing with construction permits, and registering property is crucial, especially at a time when the country is luring for foreign direct investment.
Even with automation, ZNCC said the number of licenses and other requirements need to be streamlined to reduce the time needed for uploading and processing the documents.
“Digitalisation or automation of all the other linked business processes is important for improving the ease of doing business,” said the business lobby group.
Meanwhile, Zida has completed the Investor Database Publication, making vital investor information publicly accessible via the website.
The project promotes transparency and fosters investor confidence by offering a clear view of the investment landscape. —@SikhulekelaniM1
Online Reporter