adminVictoria Falls — The Government has stressed that the on-going indigenisation and empowerment programme is not meant to nationalise privately owned property. In the investment guide launched at the on-going United Nations World Tourism Organisation (UNWTO) general assembly that Zambia and Zimbabwe are co-hosting, the Government said the programme was intended at allowing active participation of locals in the economy.
Over 1 000 delegates from across the world are participating at the conference being hosted in Southern Africa for the first time.
Zimbabwe’s indigenisation and empowerment programme has come under sustained attack from the West, which has labelled it an expropriation exercise.
But the “Invest in Zimbabwe 2013” guide says “it is not Government policy to nationalise or expropriate private assets.”
“The focus of Government is on broad based economic empowerment whose thrust is to ensure that the majority of Zimbabweans are integrated into the mainstream economy.”
President Mugabe, whose party Zanu-PF won the 31 July harmonised elections has already said there will not be any going back on empowerment, which is expected to create millions of jobs.
The Government also urges investors to actively engage with authorities and the private sector to promote joint ventures and partnerships.
The 59-page guide presents to the investors the different economic sector-wide investment opportunities and highlights the diversity of the economy as well as key attributes such as the highly educated and literate workforce.
Government makes specific mention of investment opportunities in infrastructure, mining, tourism, manufacturing, agriculture as well as financial services sectors.
The Government also said there are opportunities available in the State enterprises and parastatals which have been opened up for public and private partnerships.
Another key highlight to attract investment is the rapid economic growth that the economy has registered in the past four years.
Economic growth has averaged 8.5 percent from 2009-2012. In 2013, the economy is expected to grow by 3.4 percent.
The Zimbabwe Investment Authority has approved investment projects worth $184 million in the first half of this year. — New Ziana.
Online Reporter