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Wednesday, May 29, 2024

Attracting global capital imperative

Story by Stanley James, Business Editor

THE country’s industrial sector is on a drive to adapt to sustainable policies to attract global capital, protect the environment and reap long-term benefits.

Under the sustainability regulations, local companies have been directed to focus on favourable operating systems that protect communities in which they operate, focus on ploughing back profits and sustain their operations.

United Nations Development Programme Resident Representative, Mr Ayodele Odusola revealed Zimbabwe’s industry compliance to sustainable policies reflects a commitment to attract foreign direct investments.

“It is critical that the nation takes into account the advantages of the sustainability matrix to unlock shareholder value and as such therefore this is where the issue of sustainability fits in,” said Mr Odusola.

The government has also reaffirmed its commitment to sustainable policies for businesses.

“As the government we remain committed to those policies that have a positive bearing on the nation, it is within such a perspective that the issue of sustainability becomes of greater importance in assessing the needs of industry identifying challenges and mapping the way forward,” said the Minister of Industry and Commerce, Dr Sithembiso Nyoni.

Economic experts believe sustainable business practices will be key as the country targets an upper-middle-income society by 2030.

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