ZIDA finalises regulations to support investment into the country

Business Writer

The Zimbabwe Investment Development Agency (ZIDA) has finalised proposed regulations for Special Economic Zones (SEZs) and General Investments (GIs) meant to provide clarity on the agency’s investment licensing processes and fees it charges.

The proposed regulations are a significant step forward in ZIDA’s efforts to streamline the investment licensing process and make Zimbabwe a more attractive investment destination. The proposed regulations are also in line with ZIDA’s mandate to promote, facilitate and protect investments into the country.

“ZIDA continued to prioritise the promulgation of the Special Economic Zones regulation and General Investments regulations, which will provide clarity and the agency’s investment licensing processes and fees it charges,” ZIDA chief executive Tafadzwa Chinamo said in their quarter report for 2023.

“The regulations have been finalised and submitted to the Ministry of Finance, Economic Development and Investment Promotion.”

Once they are approved, they will come into effect and will provide much-needed clarity on ZIDA’s investment licensing process and fees.

The finalisation of the proposed regulations is a positive development for businesses that are interested in investing in Zimbabwe. The proposed regulations will make it easier, faster, and more transparent for businesses to invest in the country. This is expected to boost investment in Zimbabwe and help to create jobs and economic growth.

Chinamo said key collaboration agreements were signed with CBZ, the Zimbabwe National Chamber of Commerce (ZNCC) and the Reserve Bank of Zimbabwe meant to create an enabling environment for investments, streamlining regulatory processes and providing tailored support to investors.

“As we navigate the ever-changing global landscape, we remain confident in our ability to attract investment, drive economic development and create a prosperous future for our country and look forward to achieving bigger milestones in the last quarter of 2023,” said Chinamo.