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From Prosper Ndlovu in Harare
INDUSTRIALISTS have rapped government over delays in the implementation of key investment reform strategies to facilitate quick economic turnaround and achievement of Zim-Asset goals.
With the growing investment appetite for Zimbabwe evidenced by a series of visits and tours by foreign business delegations scouting for opportunities since the beginning of the year, the Confederation of Zimbabwe Industries (CZI) says an urgent review of the investment climate is critical to foster quick economic turnaround.
“We’re concerned at the speed of implementing things that we’ve agreed on. Speed and expediency are key towards successful implementation of Zim-Asset and improved service delivery in the country,” said a CZI representative Sifelani Jabangwe during a service delivery workshop organised by the Office of the President and Cabinet here on Tuesday.
Jabangwe stressed the need to fast-track ease of doing business processes as a top priority to position the country for economic growth.
Following research studies and industry submissions on the negative investment environment in Zimbabwe, the government set up a ministerial committee last year to address the issues.
The committee has been tasked with tackling cost drivers such as labour, taxes, tariffs, transport and lending rates from finance institutions.
The bulk of the proposals are yet to be concluded.
“As industry we’re key players in the economy that influences the quality of service delivery. We need to address a number of obstacles that affect ease of doing business,” Jabangwe said.
“Obstacles such as registration fees, protection of shareholders, payment of taxes, registration and border procedures are so cumbersome and increase the cost of setting up a business in the country.”
Jabangwe said the government should harmonise the multiplicity of regulatory bodies which demand payment from an investor at each stage of paper work processing.
“We suggest these bodies be funded by the government than relying on fines and fees as this affects businesses.
“Harmonisation and elimination of some of these processes is critical but this should be done without affecting the purpose of regulation,” he added.
Jabangwe said operationalisation of the one-stop shop facility by the Zimbabwe Investment Authority would assist in addressing the above concerns.
He also stressed the need to review water and power tariffs as well as revamping the railway network for bulk transportation as measures to boost the investment climate.
Jabangwe said industrialists fully support the indigenisation regulations but urged the government to clarify sticking points in its implementation, which are of concern to investors.
In her contribution, the senior principal director in the Department of Public Affairs and Knowledge Management, Ambassador Mary Mubi, concurred with Jabangwe.
“The government is working on this critical area of enhancing ease of doing business. Laws and regulatory bodies found in different ministries should be harmonised and housed together,” she said.
Online Reporter