adminTHE Confederation of Zimbabwe Industries yesterday urged Zimbabweans to maintain a peaceful electoral environment in the country to ensure investor confidence.CZI president Dr Charles Msipa said election-related violence would deter investors, and harm the economy which desperately needs fresh capital.
“Our industry’s future is going to be determined by the post-election era.
“If there is violence, more companies are going to sink, but if the country maintains peace we will witness a boom as investments find their way into the economy,” he said.
Zimbabweans vote in harmonized elections on 31 July.
Dr Msipa said the country had some of the best industrial infrastructure in Africa, and could easily turnaround its economy.
“What is only needed is upgrading some of the old infrastructure, which does cost much compared to beginning from the ground,” he said.
Dr Msipa said the new government should also have policy consistency to lure investors.
Under the outgoing inclusive government, policies were interpreted differently depending on party affiliation of officials.
For instance, the Indigenisation and Economic Empowerment Act which is the brainchild of Zanu-PF, was often criticized by other parties in government, sending mixed signals to investors.
Dr Msipa said avoiding policy discord was critical in luring foreign direct investment.
The World Bank also recently said Zimbabwe’s elections could help spur accelerated economic growth in coming years.
Over 90 companies have closed in the past four years due to viability problems, badly affecting the economy. – New Ziana
Online Reporter