Latest News Editor's Choice

News / National

No more bureacracy on Zimbabwe investments

by Staff reporter
07 Mar 2022 at 05:33hrs | Views
LOCAL and international investors are free to tap into any business opportunity in Zimbabwe as there are no more bureacratic bottlenecks in terms doing business, Transport and Infrastructural Development Deputy Minister, Mike Madiro, said yesterday.

He was speaking to potential investors and local business leaders during the Zimbabwe Dubai Tourism and Infrastructure Finance Conference, which ended here yesterday and was hosted as a key highlight of the country's participation in the ongoing Expo 2020 Dubai hosted by the United Arab Emirates (UAE).

For the past two days senior Governent officials and private sector leaders drawn from tourism, transport and infrastructure sectors have been engaging with their Middle East counterparts with the aim of enhancing increased business synergies and trade.

Zimbabwe is riding on its cordial relations with the UAE to grow its export-led growth momentum and international re-engagement that is anchored in economic diplomacy.

In his presentation, which highlighted key investment opportunities in the infrastructure sector, Deputy Minister Madiro said the yesteryear investment barriers have been done away with through the comprehensive Government economic reforms agenda.

"You are aware that in the past investors would take so long to register a company and spend more time hoping from one office to another trying to get this permit and that licence," he said.

"Under the new dispensation ther is no longer bureaucracy.

We are determined to enhance the ease of doing business.

"And in order to facilitate that the Goverment has established Zida (Zimbabwe Investment Development Authority) as the one-stop-shop facility.

"The moment an investor gets their business permit they can set up their business anywhere they can."

Deputy Minister Madiro said by embracing the ease of doing business reforms the country was moving in line with global best practice as it seeks to transform its economy towards middle-income status by 2030.

"We all know that capital goes to where it is comfortable and that is how Zimbabwe, as the new player in the block, is facilitating reforms so as to entice the appetite of investors to take advantage of our endowments," he said.

He urged Middle East investors to partner Zimbabwe in various transport and infrastructure development projects covering rail, road, air and mass transportation.

He explained that the investment opportunities were available in different forms such as: public private partnerships, built operate and transfer models, concession and lease agreements.

"Let me underscore that in Zimbabwe we have moved from public domination in the economic, Zimbabwe is now being driven by the private sector.

"So, investors have higher opportunities as we have a green economy that needs takers."

Speaking at the same occasion, Civil Aviation Authority of Zimbabwe director general, Engineer Elijah Chingosho, said Zimbabwe was open for business and assured potential investors that the country was adequately connected through flights.

Commercial director for HADID International Services, UAE's giant civil aviation company, Mr Issa Zuriqi, said their entity was involved in operations with world supplies and facilitation of key aviation services including Africa and was keen to partner with Zimbabwe counterparts as part of its wider regional footprint.

Senior representatives from the National Handling Services, Air Zimbabwe and the new Airports Company of Zimbabwe also shared detailed outlines of investment opportunities in their units.

During the plenary session delegates sought clarity on policy issues, what specific investment areas Zimbabwe needed support on, partnership frameworks and the scope of the projects.

Source - The Chronicle