Tsvangirai express discomfort with Zimbabwe's indigenisation laws

Prime Minister Morgan Tsvangirai who is currently touring Japan said investors to Zimbabwe were expressing discomfort with the country's indigenisation laws.

In a statement,released by the Prime Minister's spokesperson, Luke Tamborinyoka, stated that throughout the meetings, the Japanese Minister and the business executives of leading corporate had expressed concern over the controversial indigenisation programme, which they said affected both existing and new investment from Japan.

"The indigenisation law is an obstacle to investment by Japanese companies. We hope that you will review this law as it is affecting both prospective and existing Japanese businesses," the statement quoted Economy, trade and investment minister, Yukio Edano.

Tsvangirai was quoted as responding: "We have many opportunities in mining, agriculture, tourism and manufacturing and our quest to attract investment has been marred by our bad politics and a poorly crafted empowerment law which has largely scared away investors. It is the implementation that has been chaotic, even though the law insists on ceding for value and mutual discussions as a precondition."

"We have successfully managed to mitigate the excesses of this law but because we are an uneasy coalition, the ultimate answer will lie in a free and fair election as a precondition for a legitimate government in Zimbabwe."

Tsvangirai will, on Thursday, hold a meeting with his Japanese counterpart, Prime Minister Yoshihiko Noda. On Friday he will give a lecture at the United Nations University in Tokyo before proceeding to Wellington at the invitation of the New Zealand Prime Minister, John Key. The Premier will complete his tour in Australia where he was invited by the country's Prime Minister Julia Gillard.