Tsvangirai warns foreign companies looking to invest in Zimbabwe

Prime Minister Morgan Tsvangirai has warned that political instability could hamper foreign investment in the country.

Opening the Euro Money Invest Conference' forum on Tuesday, Mr Tsvangirai issued a stark warning to companies looking to invest in Zimbabwe.

"It is difficult to convince the world that we have turned the corner when others are perpetuating the same culture of violence in the countryside.

"Our own minister of tourism [Walter Mzembi] can testify to the difficulty of convincing a sceptical world when others are stabbing your effort in the back. In January this year, Honourable Mzembi was in Madrid marketing Zimbabwe as a safe tourist destination when reports were splashed all over the world that people had violently invaded the lakeside resort near Harare," Mr Tsvangirai said.

But Indigenisation Minister Saviour Kasukuwere denied the accusations.

"There is no grabbing but we are saying the laws of the land will have to be implemented.

"For foreign investors they are welcome to invest in our country as long as they are aware of the regulation that we have in terms of employment," he said.