Zimbabwe: Govt Moves to Break Investment Hurdles

26 February 2024

Zimbabwe has undertaken steps to streamline regulatory processes, dismantle bureaucratic hurdles, and fortify mechanisms for investor protection to achieve Vision 2030, Chief Secretary to the President and Cabinet Dr Martin Rushwaya has said.

In a speech read on his behalf at the launch of the investor do-it-yourself portal of the Zimbabwe Investment and Development Agency (ZIDA) last Friday, Dr Rushwaya said Zimbabwe was making concerted efforts towards becoming a beacon of prosperity, inclusivity, and resilience in the region.

"At its core lies a steadfast commitment to creating an environment conducive to investment, nurturing entrepreneurship, and unleashing the full potential of the private sector.

"This digitalisation of ZIDA that we are gathered to unveil today, is one of the many steps the Government is taking to achieve this," he said.

"The aim is to establish a transparent and predictable regulatory framework that fosters investor confidence and catalyses long-term investment in Zimbabwe."

Central to these efforts was the establishment of ZIDA, a dedicated entity tasked with promoting and facilitating investments in Zimbabwe.

"ZIDA stands as a beacon of support for potential investors, offering a comprehensive suite of services ranging from market research and feasibility studies to facilitating business permits and licences."

"With ZIDA as a partner to any investor, navigating Zimbabwe's investment landscape becomes seamless and rewarding," he said.

"As we embark on this journey together, please seize the opportunity. Zimbabwe is not just a destination for investment; it is a canvas upon which we can collectively paint a brighter, more prosperous future for future generations.

"Let us work hand in hand, leveraging our strengths and talents to unlock the boundless potential of Zimbabwe and propel our nation towards greater heights," he said.

Dr Rushwaya commended ZIDA for continuing its efforts in promoting Zimbabwe as an investment destination of choice.

Government, he said, was looking forward to seeing more initiatives such as ZIDA's portal.

"As a Government we look forward to hearing more of such initiatives and we hope to have more agencies connected to ZIDA in the near future in order to make all our investors' journeys in the country fruitful and profitable," he said.

ZIDA's chief executive Mr Tafadzwa Chinamo said the investment agency was committed to employing new technologies in its operations.

These efforts, he said, would go a long way in attracting foreign direct investments.

"While our focus remains on attracting quality investments to fuel economic growth, we also recognise the pivotal role of digitalisation. The rapid pace of technological advancement and the unprecedented exchange of innovations necessitate our proactive embrace of digital technologies.

"The launch of this portal embodies our broader vision for a modern, digitally empowered Zimbabwe. It sends a clear message to the international community that we are open for business, eager to embrace innovation, and committed to creating an environment conducive to entrepreneurship and investment," he said.

ZIDA chairman Mr Busisa Moyo said the do-it-yourself portal launch was a step in the right direction in terms of buttressing Zimbabwe as open for business.

"However, we recognise that untapped potential is still waiting to be unlocked. Launching the DIY Portal is a significant step towards realising this potential by creating a faster and much easier route for an Investor in any part of the world to access Zimbabwe's investment opportunities.

"By simplifying procedures, reducing red tape, and providing greater transparency, we are sending a clear message to investors: Zimbabwe is open for business, and their investments are welcome and protected," he said.

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