'Zimbabwe to amend indigenisation policy,' says Moyo

Economic planning minister Simon Khaya Moyo says government is working on further amendments to the damaging indigenisation policy which has been a major obstacle to foreign direct investment (FDI) into the country.

Addressing a National Defence Course on Friday last week, Moyo said government was working on ratifying indigenisation laws.

He said there was need to work on policies that will boost the dwindling levels of investment.

"The attraction of meaningful investment across all sectors of the economy is key. However, the country has not managed to register such meaningful investment," Moyo said.

Meanwhile, the Industrial Development Corporation of Zimbabwe general manager Mike Ndudzo has said lack of collaboration and co-operation between Government departments and State Enterprises delay investment approvals and as such contribute to the low rankings on the doing business index.

Ndudzo said that this lack of co-operation was detrimental especially when it comes to investment. He added that the lack of co-operation and collaboration was not only restricted to Government institutions alone but was also affecting the private sector.