Zimpapers Logo

Dr Kateera

Blessings Chidakwa Midlands Bureau
President Mugabe has instructed the Ministry of Macro-Economic Planning and Investment Promotion to harmonise investment laws to create the Ease of Doing Business and attract Foreign Direct Investment (FDI). This came out at a stakeholder consultative workshop in Gweru on Tuesday. President Mugabe gave the ministry 100 days from August 28 to December 5 to identify laws, by-laws and regulations that impact negatively on FDI.

He tasked the ministry to propose amendments of those clauses, as well as identifying State procedures that inhibit investments and recommend amendments. Speaking at the consultative workshop, Macro-Economic Planning and Investment Promotion secretary Dr Judith Kateera said her ministry was going around the country gathering information and seeking input from stakeholders.

“On August 28, President Mugabe instructed us to do consultations on policy reviews since some existing laws are impacting negatively on investment, so he gave us 100 days to complete the mission across the country,” she said. Dr Kateera said it had been noted that the investment environment was frustrating potential investors.

“Unclear regulations and legislation, cumbersome administrative procedures, uncoordinated approach in the administration of requisite fees by Government agencies, outdated legislations, as well as insecure property rights for investors have been scaring away investors and, therefore, the directive by President Mugabe for us to work on harmonising them,” she said. The ministry’s Legal Adviser, Advocate Meluleki Sibanda, speaking at the same workshop said some laws were duplicating each other.

“We have laws such as Environmental Management Agency which has duplication of roles with the Ministry of Health and Ministry of Mines. Investors need confidence in our legislation, so by the end of the 100 days we should be able to have a template that clearly stipulates what investors are expected to do and not to,” he said. Adv Sibanda said Government was taking a leaf from other countries that had successfully reviewed their laws to pave way for accommodative investment legal framework. “Algeria introduced a new investment law offering tax incentives and infrastructure that is needed for investment projects,” she said. “Mauritius introduced various tax incentives for both global and non-global businesses.

“Israel also launched a new incentive programme Innovation Visas – to attract innovative foreign entrepreneurs.”