Business / Economy
Low investment levels worry Mnangagwa
12 Jul 2015 at 10:05hrs | Views
Vice-President Emmerson Mnangagwa has expressed concern that the country to take between six to 24 months to get investment approval.
He said he was giving top priority to increasing FDI inflows into Zimbabwe with the creation of an Investor Round table to specifically handle Chinese businessperson with minimum bureaucratic delays.
"Why are we doing that? This has to stop. What we are now doing is that when an investor from China comes, the first thing is we call a meeting with all the ministers whose ministries fall under the investor's area of interest.
"It will be easier to know which ministries are doing what and then make a follow-up with the minister. In countries like Rwanda, it takes an investor six days to just know if the investment will go ahead. All the necessary processes of approval will then follow," said the VP in one of his meetings in China.
Mnangagwa said if investors encountered problems with Government officials, they should approach his office.
He said the Economic Planning and Investment Promotion Ministry would spearhead the changes.
"This will result in improved interfacing with Chinese investors," said the VP.
He said he was giving top priority to increasing FDI inflows into Zimbabwe with the creation of an Investor Round table to specifically handle Chinese businessperson with minimum bureaucratic delays.
"Why are we doing that? This has to stop. What we are now doing is that when an investor from China comes, the first thing is we call a meeting with all the ministers whose ministries fall under the investor's area of interest.
"It will be easier to know which ministries are doing what and then make a follow-up with the minister. In countries like Rwanda, it takes an investor six days to just know if the investment will go ahead. All the necessary processes of approval will then follow," said the VP in one of his meetings in China.
Mnangagwa said if investors encountered problems with Government officials, they should approach his office.
He said the Economic Planning and Investment Promotion Ministry would spearhead the changes.
"This will result in improved interfacing with Chinese investors," said the VP.
Source - Sundaymail
