admin
Business Reporters
MAJOR milestones were recorded in the second 100-Day Rapid Results Initiative both legislative and administratively with all thematic committees reporting positive movement towards achieving a conducive doing business environment. Progress was recorded in all the thematic areas which included Starting a Business and Protecting Minority Investors, Construction Permits and Property Registration, Enforcing Contracts and Resolving Insolvency, Getting Credit and Paying Taxes and Trading Across Borders.
This was revealed at the Ease of Doing Business workshop hosted jointly by the Office of the President and Cabinet and The Herald Business yesterday.
Under the Starting a Business and Protection of Minority Investor cluster, thematic leader William Mushayi, the deputy Registrar of Companies said the period for starting a business has been reduced to 15 days from 30 days.
Thematic leader of the Getting Credit cluster Ruzayi Chiviri from the Reserve Bank of Zimbabwe said efforts are now focused on finalising the legal framework for a credit registry and operationalise it by June 30 following the achievement of all the milestones under the cluster.
The thematic cluster also achieved the amendment to the Banking Act to provide for the establishment of credit registry. Subsequently, the Banking Amendment Act No. 12 /2015 was gazetted on 13 May, 2016.
A contract for the supply of software for the credit reference system was signed in April with a Czech Republic-based company Credit Info.
Delivery of credit registry software — 1st & 2nd test versions are expected to be delivered this month.
Also under the cluster the Movable Property Security Interest Bill was completed by the Attorney-General’s office and now awaits approval by the Ministry of Finance and Economic Development. The draft Bill is awaiting consideration by the Cabinet Committee on Legislation.
Under the Paying Taxes cluster, the time taken to pay taxes has been reduced to 160 hours from 242 hours.
Team leader Charles Jaure also told the workshop that under the Trading Across Borders they have reduced the cost to export and import by 30 percent.
The Construction Permits and Property Registration cluster team leader Mrs Elizabeth Nyagura reported that the time to process construction permits has been reduced to 120 days from 448 days during the second 100-Day period.
Property Registration now takes just 14 days having been reduced from 36 days.
Enforcement of Contracts and Insolvency
Resolving Insolvency: To put in place a legal framework and structures that will reduce the time within which an insolvency issue is resolved from 3.3 years to 1 year, by 13 May, 2016
As far as our thematic group is concerned, all the reforms can be institutionalised and are sustainable making use of existing structures.
Enforcement of Contracts and Insolvency
Under the Enforcement of Contracts the objective is to improve time and cost efficiency of contract enforcements by 75 percent and 10 percent respectively.
The cluster reported that all the necessary steps for the establishment of the commercial court have been done, however, progress towards operationalisation was hampered by issues beyond the group’s control such as funds for the acquisition of the building.
Online Reporter