Story by Stanley James, Business Editor
THE COMESA Competition Commission says Zimbabwe’s ongoing business-friendly reforms are expected to enhance trade and attract more regional and international investors to set up projects in the country.
This comes as COMESA member states reaffirmed their commitment to creating favourable conditions for investors during a media briefing for business journalists from across the region held in Nairobi, Kenya.
Responding to inquiries on the steps made by the Zimbabwean government to slash fees, charges, licences, and permits across key economic sectors, COMESA Competition Commission Chief Executive Officer, Dr Willard Mwemba, clarified the reforms’ importance in promoting competitiveness, enhancing consumer welfare, and deepening regional integration.
“This is a domestic issue, but I found rationale in it as for the Commission, it is something we anticipate to also benefiting regional and foreign investors,” he said.
Dr Mwemba also highlighted measures being put in place to capacitate the regional bloc’s national competition and consumer authorities.
“Capacity building remains a key priority, and it is within that perspective where resources have also been made available to member countries in terms of ensuring that consumer welfare and fair-trading practices are done transparently,” he said.
In a bold move to enhance the ease of doing business, the government has embarked on reforms reducing fees, levies, charges, and permits to attract more investors, boost competition, and increase external markets in line with global practices.
With Zimbabwe selected as the incoming chair of the trading bloc, the ongoing reforms are expected to shape the COMESA region’s landscape towards the removal of barriers for investors, thereby stimulating production of goods and services in a market whose annual trade patterns average billions of dollars.
