Chronicle Editor
PRESIDENT Mnangagwa said there is no better time to invest in Zimbabwe than now as Government has created a conducive environment for both local and foreign investors.
Cde Mnangagwa, who was addressing business executives from Italy representing 30 companies in Harare on Monday, said companies should take advantage of the various investment opportunities available as a result of measures taken by Government to make Zimbabwe an investment destination of choice.
He said Zimbabwe was strategically positioned as a gateway into the entire African market and boasted of human capital with appropriate skills and competencies.
President Mnangagwa said Government was inviting the private sector players to partner it in the expansion and modernisation of various infrastructure such as roads, rail, airports, industrial parks, power generation, dam construction, housing and water reticulation among others.
He said both local and foreign companies could invest in mining, agriculture, tourism, energy, infrastructure among others. “My Government is implementing sound macro-economic policies anchored on strong policy support, fiscal consolidation, stable prices and provision of a conducive tax environment,” said President Mnangagwa.
Local industry is already enjoying the fruits of the Government’s comprehensive economic reforms meant to facilitate the revival and growth of companies.
Companies in the different cities and towns are increasing their capacity utilisation. The manufacturing sector is on strong rebound and this is attributed to a stable macroeconomic environment since the introduction of the foreign currency auction system in June last year.
The forex auction system has enabled many companies to access affordable forex to import raw materials and equipment for retooling.
The economy is on a growth trajectory and we want to commend the New Dispensation for coming up with many pieces of legislation meant to support the revival of local industry as well as attract foreign investors.
Local companies are saying they have the capacity to produce substitutes for most of the products being imported at a much lower cost.
This is contrary to common perception that locally produced products are expensive.
Bongani Ndlovu
Online Reporter