News / National
Ease of doing business bills await Mugabe assent
21 May 2017 at 16:29hrs | Views
THREE Bills designed to improve the local doing business environment - the National Competitiveness Commission Bill, the Deeds Registries Amendment Bill and the Judicial Laws Amendment Bill - have been passed by Parliament and are now awaiting Presidential assent.
Veritas Zimbabwe - a non-governmental organisation (NGO) that provides information on the work of the Parliament of Zimbabwe and locals - last week said the National Competitiveness Bill had sailed through Senate on May 9 without amendments. If gazetted, the law will ultimately transform the National Incomes and Pricing Commission (NIPC) into a National Competitiveness Commission (NCC).
It is envisaged that the NCC will help explore ways of improving both the country's competitiveness and ease of doing business. Also, if passed into law, the Deeds Registries Amendment Bill will revamp the department into one that allows for online searches and submissions, which are critical innovations in speeding up company registration.
There is also growing optimism that the Judicial Laws Amendment (Ease of Settling Commercial and other Disputes) Bill, will breathe new life for businesses by providing an overarching framework for dispute resolution.
According to Veritas,"Neither Bill was amended by the Senate, so both Bills will now be prepared for Presidential assent and gazetting so as to include the amendments made by the National Assembly." Both the Reserve Bank of Zimbabwe and Judicial Services Commission have been pushing for the establishment of a Commercial Court to speedily resolve commercial disputes.
Experts say the timeous resolution of commercial disputes is critical in attracting investors as it allows for easy decision making.
However, the Movable Property Security Interests Bill is now before the Senate. The Bill, which seeks to allow citizens to borrow against movable security, is expected to provide relief to small and medium enterprises (SMEs) that have been failing current stringent conditions on collateral set by banks.
Financial institutions presently demand collateral in the form of fixed assets or property such as land and buildings, which is a major put-off for fledgling businesses.
The three laws that have gone through Parliament are part of the 10 Bills submitted before the House of Assembly that are meant to simplify business processes. Some of the laws currently being amended include the Shop Licensing Act; the Regional Town and Planning Act; and the Estates Administrators Act, which is being reformed to modernise it and ensure that processing and dispute resolution is expeditious.
Similarly, the Companies Act is being overhauled. All of these reforms are at the behest of the Office of the President and Cabinet.
Veritas Zimbabwe - a non-governmental organisation (NGO) that provides information on the work of the Parliament of Zimbabwe and locals - last week said the National Competitiveness Bill had sailed through Senate on May 9 without amendments. If gazetted, the law will ultimately transform the National Incomes and Pricing Commission (NIPC) into a National Competitiveness Commission (NCC).
It is envisaged that the NCC will help explore ways of improving both the country's competitiveness and ease of doing business. Also, if passed into law, the Deeds Registries Amendment Bill will revamp the department into one that allows for online searches and submissions, which are critical innovations in speeding up company registration.
There is also growing optimism that the Judicial Laws Amendment (Ease of Settling Commercial and other Disputes) Bill, will breathe new life for businesses by providing an overarching framework for dispute resolution.
According to Veritas,"Neither Bill was amended by the Senate, so both Bills will now be prepared for Presidential assent and gazetting so as to include the amendments made by the National Assembly." Both the Reserve Bank of Zimbabwe and Judicial Services Commission have been pushing for the establishment of a Commercial Court to speedily resolve commercial disputes.
Experts say the timeous resolution of commercial disputes is critical in attracting investors as it allows for easy decision making.
However, the Movable Property Security Interests Bill is now before the Senate. The Bill, which seeks to allow citizens to borrow against movable security, is expected to provide relief to small and medium enterprises (SMEs) that have been failing current stringent conditions on collateral set by banks.
Financial institutions presently demand collateral in the form of fixed assets or property such as land and buildings, which is a major put-off for fledgling businesses.
The three laws that have gone through Parliament are part of the 10 Bills submitted before the House of Assembly that are meant to simplify business processes. Some of the laws currently being amended include the Shop Licensing Act; the Regional Town and Planning Act; and the Estates Administrators Act, which is being reformed to modernise it and ensure that processing and dispute resolution is expeditious.
Similarly, the Companies Act is being overhauled. All of these reforms are at the behest of the Office of the President and Cabinet.
Source - sundaymail
