Zimbabwe overwhelmed by investment enquiries

Zimbabwe has been overwhelmed by investment enquiries and commitments, prompting Government to expedite the process of setting up a One Stop Investment Centre, a senior official in President Mnangagwa's office has said.

"President Mnangagwa's message has been consistent with the mantra that 'Zimbabwe is Open for Business' and he quickly started putting in place legislation favourable for investment," said Minister of State for Presidential Affairs and Monitoring of Government Programmes Simbarashe Mumbengegwi

"The President has also been on a whirlwind across the globe sending a message of re-engagement to the international community and mending the previously strained relationships. "His efforts are beginning to yield positive results evidenced by investment enquiries in the President's Office."

Minister Mumbengegwi said the efforts of the new dispensation were beginning to show results. "We are beginning to see light at the end of the tunnel, the amount of rejuvenation both internally and externally, which His Excellency the President has generated since November last year is actually unbelievable," he said.

"Those of us who are in his office are totally overwhelmed by people both Zimbabweans and foreigners who come to say we want to be part of this new dispensation, we want to invest and develop this country.

"Unfortunately investment is not an event, it is a process, people tend to believe that if we have got so many billions, which have been brought forward for investment, we should produce immediate results, it does not work like that, it requires a gestation period of a year, two years, (or even) three years before you can actually see the real results."

Minister Mumbengegwi said Government had now stepped up efforts to improve the ease of doing business and do away with unnecessary bureaucratic procedures that previously scared away investment.

"But the most important thing is that the process is very much underway and we are more than encouraged, in fact, we are in the process of setting up a one stop investment centre because there are so many investment proposals that really require putting all the agencies and legislation relating to investment under one roof," he said.

"So this is the process which is quite urgent so that an investor does not need to move from ministry to ministry, department to department as is happening now.

"The process of creating one stop investment centre is underway, I can assure you that work is being done as we speak and very soon it will be in operation."