adminDumisani Nsingo Senior Business Reporter
GOVERNMENT through the Ministry of Finance and Economic Development and the Ministry of Economic Planning and Investment Promotion has embarked on a consultative initiative meant to gather ideas and contributions which will be incorporated in a national investment policy. Economic Planning and Investment Promotion Minister Ambassador Simon Khaya-Moyo said Government was engaging various players in the economic sector with a view of modifying investment policies as it bids to further improve investor confidence and the flow of Foreign Direct Investment into the country.
“We are still consulting our stakeholders. The decision was solely to polish up the existing laws. Anyone willing to invest in our country has to come knowing the laws or policies of this country,” Amb Khaya-Moyo said.
He said Government was impressed by the interest shown by investors from all over the world to invest in the country.
“We have investors coming day in and day out. Delegations from different countries are coming to Zimbabwe because they know our policies are favourable. We are guided by these policies and we haven’t received any complaints from anyone,” Amb Khaya-Moyo said.
He however, said Government would not revisit its indigenisation policy. Critics have blamed Government’s indigenisation policy, among other issues, for stalling foreign investment inflows.
“We are not revisiting our policies. The 51 percent share ownership for locals is alright. We are encouraged to work with those investors who fully understand the laws of this country, so those willing to work with us are welcome,” Amb Khaya-Moyo said.
Association for Business in Zimbabwe chief executive officer Dr Lucky Mlilo said it was important for Government to enact an investment policy so as to provide potential investors an opportunity to dissect and embrace the legislation.
“Coming up with an investment policy is a good idea because the whole thrust is to lure investors and it’s obvious all investors would want to have a look at what the law entails before investing.
“The national policy was supposed to be in place all along and this will see things like the indigenisation policy being tabled. We have been using the Zimbabwe Investment Authority, which is only a body. So the enactment of a policy will be a welcome development,” Dr Mlilo said.
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