News / National
Zimbabwe to sign investment protection pacts with Russia
25 Jul 2014 at 20:29hrs |
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Zimbabwe is ready to sign Bilateral Investment Promotion and Protection Agreements (BIPPAs) with Russia and India as part of measures to attract more foreign investment, financial and business news agency The Source reported Friday.
Quoting Deputy Foreign Affairs Minister Christopher Mutsvangwa, the news agency said the BIPPAs with the two countries were awaiting approval by President Robert Mugabe.
"We are pushing hard every time, the Indian Bippa, the Russian Bippa. We are working very hard, some of them are for signature before the President," Mutsvangwa is quoted as saying.
Foreign investors have been jittery about pumping money into Zimbabwe amid fears the southern African country did not honoured foreign investments.
Several countries among them Austria, France, Germany, Mauritius, Holland, South Africa, Sweden and Malaysia signed investment protection agreements with Zimbabwe.
The pacts require the government to protect the investments and properties of other countries from arbitrary expropriation.
Quoting Deputy Foreign Affairs Minister Christopher Mutsvangwa, the news agency said the BIPPAs with the two countries were awaiting approval by President Robert Mugabe.
"We are pushing hard every time, the Indian Bippa, the Russian Bippa. We are working very hard, some of them are for signature before the President," Mutsvangwa is quoted as saying.
Several countries among them Austria, France, Germany, Mauritius, Holland, South Africa, Sweden and Malaysia signed investment protection agreements with Zimbabwe.
The pacts require the government to protect the investments and properties of other countries from arbitrary expropriation.
Source - APA
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