Time is ripe for investment in Zimbabwe – MDC ICT Minister

With the process of stabilising Zimbabwe’s political and economic landscape well underway, the country is more than ready to welcome investors.

Nelson Chamisa, the Honourable (MDC) Minister of Communications and Technology, Zimbabwe. (Image: File)

This is the view of  Nelson Chamisa, the (MDC) Minister of Communications and Technology, Zimbabwe.

Speaking via Skype at a recent Innovation Dinner focused on Long Term Evolution (LTE) networks, hosted by IT News Africa, Minister Chamisa said the country was in a period of ”rebuilding” and from a business investment point of view the timing is right.

“The climate is conducive to investment. We are focusing on connectivity, on establishing a legislative environment that encourages growth and investment, there are more opportunities. We also have powerful HR, with wonderful people,” said the Minister.

However, the issue of the government’s stance on economic reform through ”indigenisation and empowerment legislation” – and particularly legislation that compels foreign-owned companies to surrender 51% of their stakes or equity, was raised.

In response the Minister mentioned that there was a policy framework being worked on that would ensure no application of the 51% threshold to new investors. Ït is the stated and adopted position of government to partner with companies … with a veiw to helping to turn businesses around and make a profit,” he said.

He also mentioned that it is government’s role to lay the platform for business and create an environment that is conducive to business development in line with policy.

Delegates raised the issue of difficulty with immigration in Zimbabwe and the question was put to the Minister as to whether or not this represents a hinderance to business and investment.

Minister Chamisa mentioned that Zimbabwe had created a óne-stop-shop’ scenario for those entering the country and investors throughout the country and that there were structures in place to deal with any problems.

Chris Tredger, Online Editor