Mugabe obstacle to business

President Robert Mugabe's stranglehold on power, along with the ongoing acrimonious internal strife within Zanu-PF, have created an uncertain political environment which is militating against successful agribusiness in the country.

According to a report released by Netherlands embassy in Harare the political situation is still unstable with Zanu-PF succession issues still unresolved.

This according to the report has created an uncertain business environment hindering success in agribusiness.

Meanwhile, the Foreign Affairs Parliamentary Portfolio Committee has cited corruption as one of the major economic challenges curtailing inflows of foreign direct investment to the country.

Presenting the first report on attracting foreign direct investment, the Foreign Affairs Portfolio Committee Chairperson, Amos Midzi, cited illegal sanctions by the European Union and the US, inadequate funding of the Zimbabwe Investment Authority (ZIA) programmes and corruption as some of the major challenges.

In the light of the above submissions and observations, the committee recommends vigorous re-engagement between Zimbabwe and the west.

Debating on the report, Mberengwa East legislator, Makhosini Hlongwane called on government to ensure the Look East Policy is consolidated as it has offered the country complimentary source markets from traditional ones.

"We need to ensure this policy is promoted as it has created important alternative markets," he said.

The Foreign Affairs Portfolio Committee report also mentioned that the current investment levels are not sufficient to sustain the aspirations of the ZIMASSET economic blueprint.