Zim makes strides towards improving ease of doing business

Harare (New Ziana)-The Zimbabwe government has made great strides towards improving the ease of doing business as part of efforts to attract investors, both foreign and local, a senior official has said.

Deputy Minister of Finance, Economic Development and Investment Promotion David Mnangagwa said this in a speech read on his behalf at a press conference which the Africa Investment Leaders Forum and Awards held on Friday.

The press conference was about the Upcoming Africa’s Elite Symposium to be held in Zimbabwe from 26 to 28 June this year.

Mnangagwa said Zimbabwe, like most developing countries, has had its fair share of economic challenges which have had negative impacts on investment into the country.

He said the country has however, managed to implement various reforms aimed at improving and attracting both direct and foreign investment.

“We are implementing reforms to streamline procedures, reduce bureaucracy and enhance investment promotion,” he said.

“It is also important to note that Government through the National Development Strategy 1 (NDS1) is making strides investing in infrastructure such as roads, transport networks, investing in energy, communication networks to improve connectivity within the country, which investors are very keen on,” he said.

The Government is also implementing policies and incentives to attract and promote investment through measures such as tax breaks and streamlining procedures for setting up investment, he said.

“It is also important to note that for you investors, the sectors with great potential in Zimbabwe are in the areas of agriculture, mining, tourism and manufacturing,” he said.

Zimbabwe is also implementing several agreements such as the Africa Continental Free Trade Area with a potential to expand market for Zimbabwean products and stimulating economic growth.

Mnangagwa said the adoption of new technologies such as artificial intelligence (AI), is key for the economic transformation of the entire African continent.

New Ziana