Zimbabwe is now open for business. Finance Minister Patrick Chinamasa yesterday spelt out the way forward which included the adoption of consistent and transparent policies, the scrapping of the indigenisation law except for two strategic minerals and reserved areas, investor protection and the ease of doing business.
Here is what the minister said:
- The investment drive under the ‘New Economic Order’ will be anchored by adoption of consistent and transparent policies that make our economy a conducive and competitive investment destination, cognisant of the need for the participation of foreign private investment in the domestic economy.
- Zimbabwe’s readiness to compete for investment, under the new economic dispensation, is underscored by assurances by His Excellency, the President, guaranteeing security of investments coming into the country.
- Policy consistency and credibility is also essential for mitigating against risk, underpinning investment and business planning.
Policy Consistency and Credibility
Accordingly, nurturing investor confidence will also benefit from consistency and coherence of Zimbabwe’s business and investment landscape as insisted by His Excellency, the President.
Therefore, strengthening of policy co-ordination and oversight will be undertaken with the leadership of the Office of the President and Cabinet.
In this regard, previous omissions and commissions signalling policy reversals and conflicting policy pronouncements by different agencies of the same Government will no longer be allowed.
Consistent with best practices, institutional, legal and regulatory standards that affirm investor protection and undergird foreign direct investment are being adopted with the support of development partners.
The benefits to local firms and suppliers include potential development of linkages and their incorporation into global value chains.
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