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Herald Reporter
Zimbabwe’S amendments to the Labour Act will draw foreign direct investment into the country, International Monetary Fund resident representative, Mr Christian Beddies, said yesterday.

Speaking after meeting Economic Planning and Investment Promotion Minister Simon Khaya-Moyo in Harare yesterday, Mr Beddies said Zimbabwe should also give priority to addressing its foreign debt if its economy was to fully recover.

“There are a lot of opportunities here and the country is rich in terms of resources and what is needed is finding ways to jump start the economy,” he said.

“The minister highlighted policies being done like revamping the labour legislation and it is commendable, but they have to make it fair to both parties and ensure there is flexibility.”

Mr Beddies added: “One of the correct things being done is the creation of one-stop shop for investors. A strong debt reduction drive is important so that the country can attract funding from the international community because Zim-Asset cannot be funded only through local resources.”

Minister Khaya-Moyo also met Australian Ambassador to Zimbabwe, Ms Suzanne McCourt who expressed satisfaction at the level of engagement taking place between the local sector and potential investors from her country.

“Major focus was on economic development in Zimbabwe and the role Australian companies can play,” she said.

“There are some messages that we need to have from the Zimbabwean Government about policies consistency and the ease of doing business in Zimbabwe. But I am encouraged by what is going on in Zimbabwe.”

Earlier on, Cde Khaya-Moyo had met outgoing Palestine ambassador to Zimbabwe Mr Hashem Dajani and assured him of Zanu-PF and Government’s support for his country’s cause.

Mr Dajani had paid the courtesy call to bid farewell to Minister Khaya-Moyo.