Zim continues to improve investment climate

Business Reporter
THE government is doing its best to create a conducive environment for the private sector to operate efficiently, a Cabinet minister has said. Simon Khaya Moyo, the Minister of Policy Co-ordination and Promotion of Socio-Economic Ventures in the President’s Office, said the country was on the right path towards improving the ease of doing business and attracting necessary investment for economic growth.

“The government has put in place a strong corporate governance structure, which calls upon corporates to follow rational practices in their mandates. This should bode well for transparency and accountability issues therein,” he said.

Khaya Moyo said a Bill to set up Special Economic Zones (SEZs) was now before Parliament and would soon be finalised to ignite investment in particular key sectors of the economy.

SEZs are geographical areas governed by one oversight management body that offers special trade incentives to firms that establish themselves in the designated zones.

It is hoped that the Bill would pave way for the establishment of a SEZ authority charged with the responsibility to ensure the project is a success. “The Bill for the creation of special economic zones is currently before Parliament and we hope to get feedback there,” said the minister.

Through SEZs, the government intends to further improve the investment climate as the zones accord more preferential incentives to companies that will set up shop in the country. China, Jordan, the United Arab Emirates, and South Africa, among others have set up SEZs.

Against this background, such countries have consistently registered high and sustainable economic growth rates. Moyo noted that Zim-Asset has laid a strong foundation for the resuscitation and transformation of the economy.

“It should be appreciated that the 10-Point Plan by His Excellency the President is meant as an exhortation to all and sundry that we should accelerate the implementation of the strategies that will actualise the attainment of the Zim-Asset objectives,” he said.