30 November 2012

Zimbabwe: 'Put Indigenisation, Investment Under One Ministry'

THE issues of indigenisation and investment should fall under one ministry to avoid discord over economic policies, a Cabinet Minister has said.

Addressing delegates at a conference on economic empowerment, Justice and Parliamentary Affairs Minister Patrick Chinamasa said the policies should be harmonised to fall under one ambit.

"Given the complimentality of the policies, it is my consideration that the two issues of indigenisation and investment should be looked at through a holistic manner.

"Mixed signals are being emitted to potential investors who are eager to invest in the country," he said.

Minister Chinamasa said such issues should be looked at after harmonised elections next year.

"After next year's elections we are going to engage relevant authorities and make strong recommendations so that the policies are put under one ministry," he said.

Indigenisation issues fall under the Ministry of Youth Development, Indigenisation and Empowerment while investment issues are under the Ministry of Economic Planning and Investment Promotion.

Minister Chinamasa said true investors always go into any environment in some cases where local ownership was 100 percent.

"What they only consider is making profits. The indigenisation policy is not unique to Zimbabwe, many countries have done it although through different names," he said.

In some countries it is called domestic or local ownership or control of the economy.

He added that indigenisation was meant to redress the colonial imbalances of the past decades.

The two-day conference sought to give insights into key areas and updates from stakeholders on economic empowerment initiatives.

It ran under the theme, "Consolidating Economic Empowerment as Tool for Sustainable Economic Development: Employees Communities and Zimbabwe Nation at large.

New Ziana

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