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Nyasha Chingono Business Correspondent
MINISTER OF INDUSTRY and Commerce Mike Bimha says Zimbabwe is now ready for investment as witnessed by the growing number of investors willing to inject capital in various sectors of the economy. Minister Bimha said Zimbabwe was not hostile to foreign investors, hence the rising investor confidence.
“Zimbabwe is ready for investment. There are people who think that Zimbabwe is against investment and our laws inhibit investors from coming, but we have big international investors coming which is a sign that it is a safe investment destination,” Minister Bimha said in Gweru last Friday.
Minister Bimha said investors were willing to follow the country’s Indigenisation Law which requires foreign owned companies to sell 51 percent to indigenous Zimbabweans.
“When we see investors coming, it shows that they are willing to follow the law like in any other country. It shows that they have confidence in Zimbabwe.”
Asked whether Government had whittled down the requirements to suit certain investors under the Indigenisation Law, Minister Bimha said the law was not cross cutting to all sectors, with an exception given to specialised industries.
Last week saw Anchor Yeast selling 60 percent stake to French company Lessafre.
He encouraged other companies to court partners who have the capital in order to survive harsh economic conditions where hundreds of companies have shut down.
“Despite a number of challenges that companies are facing, they always find solutions to their problems and this is what Anchor did. They were innovative in finding a partner which was interested in the business,” said Minister Bimha.
He said his ministry was keen on providing solutions to an array of problems that companies are facing like courting possible partners.
Online Reporter