Chronicle Editor
Natasha Chamba, Business Reporter
THE new dispensation led by President Emmerson Mnangagwa should be applauded for championing investor friendly policy reforms that promote foreign direct investment, Australian Stock Exchange listed company, Invictus Energy, has said.
Under the Second Republic, President Mnangagwa has clearly articulated his vision for economic revival under the “Zimbabwe is open for business” mantra.
Guided by Vision 2030 that seeks to achieve an upper middle-income economy, the new dispensation has declared war on corruption and is on a crusade to foster investment reforms, reduce the fiscal deficit and restructure the civil service among others.
This week Government took a bold decision to ditch the multi-currency system and adopt the Zimbabwean dollar.
Commenting on these reforms, Invictus Energy said in a statement yesterday that they were impressed by progress hence their decision to come and invest in Zimbabwe.
“Invictus Energy overlooked (this) jurisdiction for the last 20 years due to political and economic instability.
“The new Government is pro-business, promoting foreign investments and has implemented investor friendly reforms,” reads part of the statement.
The company said the mining sector under Minister of Mines and Mining Development, Winston Chitando, has shown understanding of the needs and importance of its players.
It said Government’s move to amend the Indigenisation and Empowerment Act has guaranteed investor rights.
The new administration has dumped the 51/49 percent shareholding requirement, which was imposed by the previous Government.
Last year in September, Invictus confirmed the potential for oil exploration in Muzarabani, which it predicts will bring economic boom in the country.
— @queentauruszw.
Online Reporter