adminPermanent Secretary in the Ministry of Economic Planning and Investment Promotion Dr Desire Sibanda told Business Chronicle that the investment guide was part of a number of initiatives Government was working on to improve the investment climate.
He said this was in line with a number of investment reforms in the country that were part of the implementation of the Medium Term Plan (2011-2015).
“The Ministry of Economic Planning and Investment Promotion is working on an investment guide to Zimbabwe opportunities and conditions 2013.
“The investment guide will provide investors with information on key investment opportunities in the country and flagship projects that are critical for the successful turnaround of the economy,” he said.
He said the investment guide would be a reference document for any investor to invest in Zimbabwe and provided critical information to potential investors at a glance.
In pursuant of the Medium Term Plan (MTP) objectives of consolidating the investment drive, Dr Sibanda said his Ministry had appointed a new turnaround board for the Zimbabwe Investment Authority (ZIA). He said the major mandate of the new board was to turnaround ZIA, and operationalise the One-Stop-Shop.
“It will work closely with the Ministry on profiling Zimbabwe in international and regional investment forums and engagements, promote domestic investment and link foreign direct investment to domestic resource mobilisation, and promote the country as the most preferred investment destination,” said.
He said his Ministry had engaged a consultancy company to reform ZIA.
“An international expert Mr Clive Voks is in the country to help turn around ZIA and improve its effectiveness. He will meet investors and stakeholders. The United Nations Development Programme is supporting the ZIA reform programme.”
The Ministry of Economic Planning and Investment Promotion recently held an investor roundtable meeting.
The forum created a platform through which the Government, the private sector, local and international investors discussed critical issues impacting on business and investments in Zimbabwe.
Dr Sibanda said the initiative enabled the Government to assemble key actors in the public and private sectors who proffer advice on how to improve the country’s investment climate.
He said the Government was also working on the signing and ratification of Bilateral Investment Promotion and Protection Agreements (BIPPAs) with a number of countries.
He said BIPPAs provided reciprocal security on investments in Zimbabwe and other countries.
As part of reforming the investment climate and improving the ease of doing business, Government recently embarked on a number of legislative reforms.
The legislative reforms involve harmonising investment laws.
Domestic and foreign direct investment has been cited as essential for the country to achieve sustained growth and development.
Bongani Ndlovu
Online Reporter