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Herald Reporter
Zimbabwe is making strides in improving its regulatory and general business environment in a quest to attract both domestic and foreign investment, and is also targeting to become the safest destination for capital injection on the African continent.
Minister of Information, Publicity and Broadcasting Services Monica Mutsvangwa said this while addressing delegates during a ministerial dinner that was held last night in Johannesburg in South Africa.
She said after many years of economic stagnation, the Second Republic under President Mnangagwa had quickly put the nation on the road to recovery.
“Massive industrial growth has been the benchmark of the Second Republic’s reform thrust. In the last five years, the President has been hands on in terms of promoting massive capital flows to our nation,” she said.
The current administration’s thrust towards inclusive development, Minister Mutsvangwa said, was anchored on making Zimbabwe an optimal destination of capital.
“Our geospatial advantage makes us a strategic nerve centre for SADC trade and commerce which directly feeds into the aspirations of the African Continental Free Trade Area (AfCFTA).
“The resilience of our economy is attested by our robust sanctions bursting strategies. Foreign investors are allowed to own 100 percent shareholding for mining operations in all minerals.
“Before starting operations, foreign investors are required to register a local company and apply for an investment licence from the Zimbabwe Investment and Development Agency (ZIDA).”
Turning to mining, Minister Mutsvangwa asserted that Zimbabwe was home to an abundance of all useful minerals, which was advantageous for investors. “The mining sector is ripe for even faster growth as gold is literally everywhere in Zimbabwe. You will all be happy to know that Zimbabwe’s currency is now anchored on the gold standard as opposed to the fist currency US dollar.
“This explains why the Zimbabwe dollar is getting stronger to the chagrin of speculators, and to the delight of our population. This is a boon for investors.”
Minister Mutsvangwa said the country was also on the cusp of being a key oil and gas player in the region with the Australian Invictus Energy firm indicating improved commercially viable findings at its Muzarabani oil and gas exploration project.
She said credit should go to President Mnangagwa for attracting global class capital to exploit global class minerals endowments in Zimbabwe and highlighted the progress that had been made so far in development of the country’s aviation system and tourism sector.
“There are massive investments in airports Zimbabwe. This week the President officially opened a spanking new Robert Gabriel Mugabe International Airport with state-of- the-art radar and other airport handling facilities.
“This is a sequel to another world class international airport at Victoria Falls. All this investment is destined to make Zimbabwe an enticing tourist destination for the discerning tourist traveller.”
Online Reporter