State engages international financial institutions

05 Oct, 2015 - 00:10 0 Views

The Herald

Business Reporter
GOVERNMENT is working with international financial institutions to reduce the country’s perceived risk and is leaving no stone unturned in its endeavour to attract investment particularly foreign direct investment to boost infrastructure development, a senior Government official has said. “We are working with international financial institutions to reduce the country’s perceived risk.

‘‘We are reviewing the country’s doing business environment to make it competitive. As Government we are attracting world class companies to the country’s economic zones in mineral processing, tourism, agricultural processing and creating industrial parks,” the Minister of Macro-Economic Planning and Investment Promotion Dr Obert Mpofu said in a speech read on his behalf by the permanent secretary in the ministry Dr Desire Sibanda.

He was addressing the 2015 Ambassadors and Executives Business Luncheon.

The networking event was attended by ambassadors or their representatives from Namibia, Botswana, Portugal, Malawi, Indonesia and the Netherlands.

He said there are concerns on the investment climate in African countries which have impediments including energy, transport and security of property.

“There is need to strengthen investment boards. In Zimbabwe we are working on the finalisation of the One Stop Shop Investment centre. This will see the centre attracting FDI in a big way and will be the gateway for all foreign investors,” Dr Mpofu said.

The centre will articulate the advantages on investing in Zimbabwe, welcome investors and reduce dramatically the time it takes to open business in the country, according to Dr Mpofu.

“As a ministry we intend to work diligently towards developing the economy, attracting both foreign and domestic investment. The main thrust is to attract foreign direct investment for us to achieve the Zim-Asset economic growth target of 7,2 percent and reduce poverty in line with the recently launched Sustainable Development Goals: 2016-2030,” he said.

He said Government is keen to work with other stakeholders in that endeavour.

He said most business people want to invest in Africa and Zimbabwe should not be left behind.

“There is now a scramble for resources from Africa. International companies are now focusing on Africa.

‘‘African economies are growing in terms of their GDPs,” said Dr Mpofu.

To tap into the investment inflows into the country to benefit the poor, Dr Mpofu said there is need for pro-poor policies.

“We need pro-poor growth to lift the millions of Africans out of poverty,” he said.

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