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Thursday, May 23, 2024

Zimbabwe assures global investors of viable returns

Story by Stanley James, Business Editor

ZIMBABWE has assured investors of more reforms in the ease of doing business to create a favorable platform for viability and business confidence.

A two day Zimbabwe Capital Markets Conference held in London attracted several foreign investors who wanted to get an insight on available opportunities.

While it also afforded an opportunity for government and the private sector to present a unified message on Zimbabwe’s investment portfolio agenda, treasury also revealed commitment by the government to facilitate a safe and viable business climate.

“Relevant legislation such as the Securities and Exchange Act, and the Insurance and Pension Act and all subsidiary legislation is continually reviewed to enhance investor protection, promote market integrity and build investors’ confidence through a fair , efficient and transparent financial markets which are supportive of the development aspirations of the country, the establishment of the Victoria Falls Stock Exchange (VFEX) has also presented an opportunity for a diversified investment base,” said the Minister of Finance and Economic Development, Professor Mthuli Ncube.

With inflows from strategic sectors such as mining mainly lithium, agriculture, construction and others being on an upward trajectory, government has assured investors that their funds will be safe.

“Our mantra is Zimbabwe is open for business and it also applies to capital market investors, issuers and market intermediaries, foreign and domestic, including in particular Zimbabweans in the diaspora,” he added.

The interaction with the global investors was held when government is forging ahead with ease of doing business reforms aimed at attracting more projects, creating a viable platform for projects, boosting confidence and overall economic development.

Issues that also emerged during the conference include fiscal incentives, tax exemptions and tax holidays, privatising state owned enterprises, efforts to stabilise and maintain a sound macroeconomic climate and governance reforms.

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