Business Day (Johannesburg)

Zimbabwe: Harare Offers Free Hand to Investors

Johannesburg — ZIMBABWE Prime Minister Morgan Tsvangirai yesterday promised to lay down the red carpet for South African companies and other international investors willing to partner with his fragile unity government to revive an economy devastated by years of mismanagement.

In an interview at the weekend, Tsvangirai said his unity government would overhaul investment regulations and policies, and a prospectus of investment opportunities would be released as part of the government's 100-day action plan expected to be discussed by the cabinet tomorrow.

The plan also lays the framework of the government's economic revival programme and commits ministries to specific actions and targets to make the country work again. He said his government wanted to promote a " win-win" partnership with the private sector and the state's role would be restricted to facilitating investment and allowing the private sector to operate without interference.

South African companies were particularly welcome, he said, and he listed telecommunications, tourism, mining, agriculture and manufacturing as some of the key sectors requiring urgent investment.

Pleading for more western support through investment and aid, Tsvangirai said the continued imposition of sanctions against Harare was sending the wrong signals and holding the three-month-old unity government to "ransom" in its hour of need.

Zimbabwe, he said, was desperate for investment to deal with rampant unemployment, to repair and rehabilitate infrastructure and improve food production.

The UK at the weekend said it welcomed the early progress made by the unity government, but noted that Zimbabwe was still in need of a great deal of reform.

Junior foreign minister Mark Malloch-Brown, who met Tsvangirai for the first time on the sidelines of the inauguration of President Jacob Zuma, said London would maintain a close dialogue with the fledgling government in Harare but did not promise any financial assistance.

Western governments say they want the rule of law restored, charges withdrawn against political detainees, and are also concerned about the continued invasion of commercial farms and the unilateral appointment of officials, which Tsvangirai said had been resolved.

"We think we should be rewarded for what we have achieved already. I do not think it is fair to hold us to ransom through such misgivings because progress has been made," Tsvangirai said.

Zimbabwe estimates that it needs about $8,3bn to kick- start the recovery process. But the response so far has been muted, with just over $400m raised in credit lines from African financial institutions, while the International Monetary Fund, which the country owes more than $130m in arrears, last week announced the partial resumption of technical assistance.

"We need investment in many areas, particularly rehabilitation and repair of broken infrastructure, telecommunications, mining, agriculture and tourism," Tsvangirai said.

He said his government would explore various incentives to attract investors, for example allowing companies to build, own and operate key infrastructure such as roads, or promoting public and private sector partnerships such as contract agriculture production.

He admitted that investors were still sceptical about the success of the unity government, but said it was unfair to be judged on the basis of past policy mistakes.

"There is no going back," he said.


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Comments 1 to 5 of 21 Post a comment

  • George Warren
    May 11 2009, 04:50

    Good news indeed. Targetted aid is the best way, Get the economy working again without money being thrown at the country in any haphazard way.

  • takunya_ndebvu
    May 11 2009, 07:09

    Now that the architects of the sanctions that have devastated Zimbabwe and killed so many of our people are calling for their removal, what has the likes of Awt, Prem, Chachacha, Zungairwa and many others got to say about this? A few days ago Biti was pleading with the Americans to repeal ZDERA and now Tsvangirai, whom everybody heard and saw travelling from capital to capital, during his sellout time campaigning for sanctions is also calling for the lifting of same ON ZIMBABWE and its people.

    "Pleading for more western support through investment and aid, Tsvangirai said the continued imposition of sanctions against Harare was sending the wrong signals and holding the three-month-old unity government to "ransom" in its hour of need". He was not talking about sanctions against individuals but Zimbabwe.

    Who then are you, iwe zvako samunge-munge, to say that there are no sanctions on Zimbabwe when those who were instrumental in their imposition are saying the sanctions are there and should be removed because they are hurting the people of Zimbabwe and retarding development at a time when we desperately need it?

    Tsvangirai said that the reasons for the imposition of the sanctions no longer exist and do not hold water any more because he is now in government or is now part of it. That is precisely what imperialists wanted to happen but still they continue to maintain the sanctions. Why? Tsvangirai also believes that continuing to maintain sanctions on Zimbabwe is tantamount to holding the whole country to "ransom".

    I agree with him. What is the reason for keeping the sanctions in place when progress has been made thus far? The answer lies in the fact that imperialists NEVER supported Tsvangirai in the first place. They only loved him to extent that he was protecting their interests. Theirs was only to use him for that period and, now that he is refusing to "swing", he is dispensable.

    No wonder they wanted to assassinate him and his wife. All sellouts should learn from this and always remember that imperialists have no permanent friends but only permanent interests.

  • emily_sorensen
    May 11 2009, 08:33

    Takunya,

    After your comments about the CIA inventing homosexuality, syphilis and aids, and spreading these through Africa, no one takes you seriously anymore, so why do you bother?

    You say Tsvangirai called for sanctions against Zimbabwe, you say this all the time, yet you have no evidence and everytime you do I chase it up and find it to be just more and more of your silly lies.

    You say about Tsvangirai that "everybody heard and saw travelling from capital to capital, during his sellout time campaigning for sanctions"

    Where is the article or link to prove this? Everyone heard it afterall? Show us... and now Tsvangirai, whom everybody heard and saw travelling from capital to capital, during his sellout time campaigning for sanctions is also calling for the lifting of same ON ZIMBABWE and its people.

    "Pleading for more western support through investment and aid, Tsvangirai said the continued imposition of sanctions against Harare was sending the wrong signals and holding the three-month-old unity government to "ransom" in its hour of need". He was not talking about sanctions against individuals but Zimbabwe.

    I've never said that there are no sanctions, but always that there are no sanctions on the Zimbabwean people, only named corrupt individuals from the ZANU PF.

    You say progress has been made, but at the same time, the basic tenants of the rule of law do not exist in Zimbabwe. There are political detentions, abductions and an idiot refusing to swear in an elected member of parliament. Oh... and Gono admits to stealing money from private accounts. The county hasnt made any progress!

    As for the assassination attempt, we all know Mugabe is behind this. You'd be a fool to think otherwise.

    Actually. You are a fool arent you.

  • Chacho
    May 11 2009, 09:44

    Yah I have said this and I will say it again that we must as a progressive nation, engage in responsible politics. The opposition wanted to get into power through the back door using dirty tricks. Iwe You do not burn your house down to build it.It is on record and there is evidence when the P M stated 'South Africa should cut all our power supplies, cut fuel inflows and the West must terminate any financial assistance to our country......'. That video is there. Listen,it was very irresponsible. This is the country you love(d) so much, but you wanted to see it over the precipice, so that you would be ushered to State House by the ... call for the rehabilitation, receive aid from the your principals in the West, 'get it fixed' and be called the Messiah. The chickens are coming home to roost. Watching soccer is different from playing in the field. Now that you are in the thick of things. clean up your mess. You must learn that when you live in a glass house you must not throw stones. There are core values pertaining to this beautiful country which we must espouse and preserve. Those who will engage in politics must learn from the mistakes of our friends. Of the three political parties in the UK and the the Two parties in the US, none have you heard campaigning for sanctions or the obvious. Munotisekesa. And as you call on them and making the nice overtones on the red carpet offers, they marvel and say..."Look who s talking"...

  • Chacho
    May 11 2009, 11:12

    When those Western political parties(UK or the USA) rose into politics or engage on campaigns they have never prayed for sanctions to be imposed on their own countries. But look at what damage has bedevilled our beautiful nation Zimbabwe because these guys called for sanctions etc, as the list goes on. Now you jostle up and down as if to mean the kindhearted things. They laugh at you behind curtains.Hazvitofaniri kuitwa izvozvo. Wise up.

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