Tinashe Makichi recently in VICTORIA FALLS
THE Zimbabwe Investment Authority has significantly reduced the time it takes to get an investment licence to eight hours from 28 days following the operationalisation of the One-Stop-Shop Investment Centre last month, ZIA board chairman Nigel Chanakira said.
Speaking at the Institute of Internal Auditors Zimbabwe annual conference in Victoria Falls last Friday, Mr Chanakira said the One-Stop- Shop Investment Centre was now operational.
He said the launch of the OSS will likely improve the country’s ranking on the World Bank’s Ease of Doing Business Index.
“Since the launch of the One-Stop-Shop we have seen a significant improvement in terms of processing investment licences for investors. Assuming your papers are in order an investor can get a licence after eight hours from 28 days.
“We believe that by the time the World Bank publishes its results, Zimbabwe should be in the top 100. I really want to commend the Office of the President and Cabinet for spearheading the reform process.”
ZIA is also set to launch the digital One-Stop-Shop Investment Centre in a bid to further increase efficiency.
The virtual investment centre will pave way for investors to apply for licences from ZIA and Government departments online and fulfil other requirements such as applications for working permits.
All departments will be linked on a virtual network and the moment an investment licence is issued, other departments will immediately know that a company has been registered.