Take advantage of good governance in Zimbabwe, says Vice President Chiwenga

Take advantage of good governance in Zimbabwe, says Vice President Chiwenga

“The government of Zimbabwe has been working to improve the business environment,” said the Vice President of Zimbabwe Hon. General (Retd.) Dr. Constantino G.D.N. Chiwenga.

The Vice President of Zimbabwe, H.E. Constantino Guveya Dominic Nyikadzino Chiwenga is leading a delegation to India to attend the 13th CII EXIM Bank Conclave on India-Africa Project Partnerships.

Speaking at an interactive session organised by PHD Chamber, Hon. Chiwenga highlighted the efforts of his new government vowed to improve the economy, rule of law and particularly how the country is functioning to assure favourable investment and economic strategies.

The economy of Zimbabwe has seen lumpy days. Responding to the queries raised by Indian businessmen at the session, the vice president said “Most investors say that they are expecting for things to get better in Zimbabwe. My response is that things are improving right now. Take advantage of good governance in Zimbabwe.”

The Republic of Zimbabwe is an independent country in Southern Africa, well gifted with mineral, agricultural and other valuable resources, which have crafted opportunities for the development of resource-based industrial accomplishments.

The country has cheap, educated and reasonable labour, well-developed infrastructure, easy access to regional and World markets through its membership in AU, COMESA, SADC, COPAC and CISSA. 

He urged the business owners in India to explore Zimbabwe as a destination for their businesses. “Incentives to invite FDI include tax breaks for new investment by foreign and domestic companies. The government also waives import taxes and surtaxes on capital equipment. We have been working dedicatedly to improve the business environment by trying to reduce costs measured by the World Bank’s Ease of Doing Business index,” he added.

While asserting the importance of agriculture in Zimbabwe’s economy, Hon. Chiwenga said, “Agriculture is the mainstay of Zimbabwe’s economy in as much as Zimbabweans remain largely a rural people who derive their livelihood from agriculture and other allied rural economic activities. This sector is Zimbabwe’s untouched goldmine.”

Zimbabwe’s growing middle class wants better services. The Zimbabwean healthcare sectors also presents investors an opportunity to improve offerings. The country presently requires drugs, state-of-the-art technology and infrastructure.

The country is home to the second largest diamond and platinum reserves in the world. Zimbabwe claims to have eight out of nine “rare earth” minerals and has the processing capacity of gold, diamond and chrome.

Hon. Chiwenga reiterated government’s commitment to the translucent, trustworthy, and reliable application of its indigenisation policy that will remain critical to draw and retain investment in the mining sector.

While the leaders of 44 African countries have signed a deal to create one of the world's largest free trade blocs, Zimbabwe hasn’t finalised its national consultations – hence it is yet to sign the CFTA (African Continental Free Trade Area). The creation of a free trade area — promoted as the world’s largest in terms of participating countries — comes after two years of negotiations, and is one of the AU’s flagship projects for greater African integration.

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