Economic reforms bear fruit: SB Moyo

Prince Sunduzani, Business Reporter
THE Minister of Foreign Affairs and International Trade, Dr Sibusiso Moyo, says ongoing economic reforms in Zimbabwe have started bearing positive results with the country positioning itself for increased global investments.

Speaking in a televised interview with Bloomberg TV in New York, United States of America, on Monday, Dr Moyo said the new political administration under President Mnangagwa was leaving no stone unturned in its quest to transform the country’s economic fortunes

“The Government and the new administration have taken over and started major reforms, which are mostly economic and a lot of agreed political reforms. This has started attracting investment,” said Dr Moyo.

“We have declared the country open for business so that the rest of the world can see this awakening giant, which has been kept secret by Africa.”

Dr Moyo called on global investors to secure a share in the “new Zimbabwe” and be part of an imminent economic transformation of the once isolated country.

He re-affirmed Government’s commitment to easing investment regulations and creating an open economy where all investors can negotiate suitable terms.

“Zimbabwe is open for business and we are creating an appropriate environment, which is easy to do business in. That is critical so that capital can find comfort to settle in. This is the time to accompany and complement the awakening giant so that Zimbabwe can be part and parcel of yourself,” said Dr Moyo.

“We undertook to reform the economic indigenisation policy and Act, which now allows businesses to own their own equity of their desired choice as they negotiate to enter into the business arena.”

He noted that the visit to America had started bearing fruits as it has drummed up interest in various economic sectors.

“We are already experiencing interest from certain American companies like General Electric, which have shown interest to enter into different sectors of the economy and we are saying all American companies should follow General Electric,” said Dr Moyo.

@PrinceNkosy102