#mugabe appeals for FDI, says to respect property rights

via Mugabe appeals for FDI, says to respect property rights | The Source  April 25, 2014 by Bernard Mpofu

Mugabe on Friday appealed for more Foreign Direct Investments to stimulate Zimbabwe’s underperforming economy, promising to respect property rights for investors.
Zimbabwe has of late signalled intention to relax its controversial empowerment policy that President Mugabe’s ZANU-PF has championed using a 2008 law that requires all foreign firms, including mines and banks, to have majority control by local blacks.

The country has struggled to attract FDI in recent years or funding for its economic blueprint, ZimAsset due to concerns over the perceived lack of respect for property rights and uncertain business climate and in particular the implementation of the empowerment law.

On Wednesday, finance minister Patrick Chinamasa said the law would be amended to reflect the government’s new stance.

“There is no expropriation or nationalization of shares held by non-indigenous persons in companies as some of our detractors would want the world to believe,” Mugabe said, officially opening the Zimbabwe International Trade Fair.

“In fact there is no imposition of indigenous partners on foreign investors, instead investors are free to identify partners of their choice. With this clarification, let me take this opportunity to invite potential investors to come and do business in Zimbabwe in which there is huge potential for joint venture partnerships between investors, manufacturers, industrialists and the public sector.”

 

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47 comments on “#mugabe appeals for FDI, says to respect property rights
  1. Jrr56 says:

    Unless you are white then they will take your property without compensation.

    • ZimJim says:

      Yup.

      “Because ‘whites’, and ONLY ‘whites’ can be racist”. Says Bob, the biggest racist since Hitler, and a LOT dumber!…

  2. Chidumbu says:

    who would want to invest in something so broken, and who would believe Mugarbages lies not even the Chinese are investing, they are just taking what they want, if Zimbabwe were a business it would have been forced into liquidation long ago, anyway Mugarbage if you can waste 5 million on your stupid daughters wedding then why don’t you dip into your own saving to save your beloved country from the evil west

    • Parangeta says:

      What savings? the poor President only receives
      $4000 a month.

      How can you expect this hard-working, loyal
      ‘servant of the people’ to save Zimbabwe.

      After all, he has to put that aside for Our Most
      Honorable First Lady’s shoe and handbag budget.

      We can’t have Gucci and Givenchy go hungry, can we?

  3. Funganayi Mutamiri (UK) says:

    A good and welcome move for Zimbabwe and will see a surge in FDI without doubt soon.

    • ZimJim says:

      I look forward to a postcard from whatever planet is you’re on.

    • Zimguard80 says:

      Trust has long been lost because of continued inconsistency. If only they could tell this bull dog ~ Robert Mugabe ~ to shut the smelly frothy mouth and let him quietly loot anything he can land his hands on, maybe we might stand a chance of FDI. He tells the West to get lost, and in the same breath he begs them to pay school fees?!? Robert Mugabe keep your Zimbabwe

    • zeezee says:

      What planet are you from? No one trusts anything Mugabe says. Only fools will invest in Zim under dictator Mugabe rule.

    • roving ambassador. says:

      Invest in the land of thieves!!!! please give us a break. its within you right to say whatever you want , and I bet your masters loved this. No one is buying.

    • DawnofNewAge says:

      ??? What planet are you on???

    • Parangeta says:

      Are you smoking dagga?
      Who would invest in a burning house, you?
      Get real Zanoid fool!

  4. Funganayi Mutamiri (UK) says:

    I have just received an important call from our investors giving us Africa Resources Global Ltd a green light of US 200 Million dollars lnvestment through ZIA as soon as this is passed into law for various projects to be spend within the first 5 years. So we are excited and welcome this announcement and positively look into the future of Zimbabwe as an investment destination.

    • ZimJim says:

      Its Party Time! (F#ck the Povo)

    • Zimguard80 says:

      Good luck!!!

    • Kevin Watson says:

      Whatever you are smoking it has warped your brain because only the blind, the dumb, the stupid and paid lackeys of Mugabe would take his rambling rubbish seriously.

    • roving ambassador. says:

      A few backhanders here and there , a Minister as a silent shareholder, lists of presents for the dear leader, rentals on Chombo’s land .AAh ,I wonder what the end product ‘s selling price is goner be to the povo.
      You get my drift.
      Wishing you well on you povo orientated ventures.

    • I am not the one! says:

      I am useless at searching the web and I was unable to find anything called “Africa Resources Global Ltd”. Many similar named companies but not the same. I think the name “…Resources” says it all.. bribes, kickbacks etc etc for the plundering of the land. 200mUS$, drop in the proverbial. Even Mcgyver in his little hovel of a office in Newlands shopping centre would snaffle this up no probs to continue paying for his wide spread family being educated and living in UK and OZ.

      • roving ambassador. says:

        go into linked in . Based in Sheffield. searched through Face book .
        The man is trying to grow his business. Bless him

    • Parangeta says:

      There is no registered Company called
      Africa Resources Global Ltd, not in Google,
      Bing or Yahoo Search – just another Zanoid
      front to steal money.

      Mugarbage has several Africa Resources Global Ltd’s!!!!!

  5. Little Dorrit says:

    RESPECT the RULE OF LAW – all residents of Zimbabwe, not just foreign investors
    RETURN grabbed land to title holders
    REPEAL indigenisation legislation
    REPEAL Exchange Control legislation and
    LIBERALISE the Economy
    SLASH personal, company, value added and capital gains tax; stamp duty and Estate costs
    REMOVE import duties and tax
    SURCHARGE every litre of fuel
    SIMPLIFY AND REDUCE COST OF TAX COLLECTION BUT WIDEN THE NET
    AMEND Labour Legislation – make it employer friendly
    REDUCE Civil Service including Parliament
    SHUT DOWN plethora of Govt Commissions, Agencies etc
    MANAGE Govt budget with honesty and prudence – invite international professionals to manage
    Ministeries
    RESTORE FAITH IN THE COUNTRY BY HONOURING ALL UNDERTAKINGS -UNDERWRITTEN THROUGH IMF AGAINST PLEDGE OF MINERAL RIGHTS

    for starters

    • Doris says:

      Ooooh, that sounds like an amazing dream. In reality, NEVER, EVER, trust any comments that come from the top that sound realistic and reasonable. Remember when he said that ONLY land that was under-utilised would be taken?

    • NBS says:

      This is good but ZPF are deaf, blind and totally irrational. Bob must go now! First step!

  6. J Firebrace says:

    The rolling curse is coming… which is what happens when you slay your own people !
    I use the example of that poor Farmer David Stevens.. a good man who asked for help from the Murewa police force and was put on to the ground and executed at point blank range while the Police did NTOTHING !
    Of course this is one example and there are many more which are known and not known of. What sort of a Government sanctions this behaviour upon it’s own ?
    I AM TALKING TO YOU ROBERT GABRIEL…. THE LOVE YOU FELT FOR YOUR DAUGHTER AT HER WEDDING…. IS THIS NOT THE SAME LOVE DAVID STEVENS FELT FOR HIS FAMILY. I ask you this knowing I will be met with silence.
    One day you will have to explain this.

  7. Its useless says:

    Its useless to continue talking yourself hoarse. You did law Mr president. We as potential investors, we want to see what you are saying in black & white; we want to see it promulgsted into a law. We cant risk coming there only for you to invoke the current law at a later date. Simply repeal current indeg. & pass into law the very words you are saying in speeches. Thank u in waiting

  8. John Thomas says:

    Mugabe is a liar and a thief. Everybody knows this

  9. wa Zimbabwe says:

    Don’t listen to what these desperate idiots are saying. Look at the law they are hiding behind their backs whilst talking. They are crooks and bandits.

  10. Senzachena says:

    Fungunayi, you are smoking weed! Nobody in their right mind would put half a cent into Zimbabwe whilst it is still run by a geriatric liar and thief and all his hangers on. Enjoy your dream, Zanu trash

  11. There are just too many inconsistencies in the Zanu pf set up. No one will take this seriously because we have seen this Government U turn in what ever direction they think will suit them. Unfortunately for them the U turning is sending them into a direction-less spin. Ask yourself, with the resources Zimbabwe has why are the Chinese so cautious? After being offered everything short of a direct takeover of Government house they still pause. There is no cohesion with in Zanu pf and the Chinese see it. When you get a situation where everybody is pulling in different directions something has got to give. I wish Funganayi Mutamiri all the best in his endeavours as CEO of his UK based company, if nobody from the Government tries to put their finger in the pie ,Who knows?

  12. Mandy says:

    The time is now for Zimbabweans to demand more.
    1) Mugabe and his government must go; depart please for the good of the country and generations to come
    2) Proscribe anything called Zanupf. For the avoidance of herewith is the dictionary meaning of proscription: put on the list of those who may be put to death or simply outlaw. Boris Yeltsin in Russia did it and proscribed the communist party in 1990 and the world is a better place for it.
    3) Shut down all the parastatals and put them into quarantine awaiting disposal. Dare say the proceeds will go towards paying off the workers.
    4) Dissolve that parliament at both levels of national assembly and senate
    5) Arrest Mnangagwa, Johnathan, Constantine and Augustine and sent them to the ICC to answer for the many cases of violations of human rights. Of course Mugabe is a dying man and you would not want to do that to him but he is equally culpable in stealing the people’s election.
    6) Hang Tobaiwa Mudede from the longest pole you can find
    7)Zimbabweans must demand fresh elections in the three months

  13. Zim Reeper says:

    ‘promising to respect property rights for investors”!!!!Only people born yeterday will believe this mugabe idiot.

  14. JOHNSON says:

    The twin major problems are inconsistency on policy and lack of respect for the laws and of obligations (impunity). These guys control all state resources and apparatus and can make a volte-face in policy without warning. Who can make long term investments when they know that each election period laws are changed to suit some guys and undulate the playing field? The problem is not only in policies but in ingrained political practices of the hegemonic apparatus that engender distrust. In fact the problem is about TRUST and DISTRUST IN THE LONG TO MEDIUM TERM. When you make long term scenario planning for foreign Zim-bound investments you end up in a dark precipice and cannot feel like leaping in there and hoping God will make it good. It’s damn uncertain in that labyrinth. What ZANU PF must do to wash their DISTRUST is hard to fathom….its a gargantuan, mammoth task …..MISSION IMPOSSIBLE is the word. Even the Chinese are not sure if the playing field will remain in their favour in the long term….thats why they are not investing now. The truth is that everyone wants to invest in Zimbabwe more than anywhere but there are gate keepers shutting the door….but pretending they are opening it. Unfortunately investors see it as desperate luring into a trap. The fact that in land dispossessions even bilateral investments were violated shows that noone is protected. The history of the courts from 2000 does not help things at all. The language of ZANU PF make your skin cringe with fear. You feel safer outside than inside Zimbabwe…even when outside you feel spooky!! RIght! That said hey my ZANU fellas the truth and the issue here is about external perception check (as seen by potential investors especially the diaspora and foreigners ans also locals….because investments are synergistic and agglomerative. You cannot dismiss one component and favour another. For example you can have only ZANU pF entrepreneurs (as per Indeginisation ans ZIM_ASSET)….Right! but what about external network…you suffer from isolation because you policy is not sustainable in the global context…You might as well go to the moon. Hey guys your problem is chronic lack of long term vision…..but greedy short sightedness. We don’t need to be remindred that Zimbabwe is for Zimbabweans….that is pretty obvious. We need action and cleansing of the dark image we gave ourselves by politicking and posturing anf emotionalising etc. GUys we know we are in a dilenma and to get out of it as ZANU PF alone we cant unless we bring in partners who the world can trust as in 2008. Please bring credible partners who investors can believe…except if you need investors who can invest for the weeks when your friendly policy in in force……..GUys lets make a fast change and then institutionalize it credibly. Otherwise invstment will be slow in coming or ….as I fear not come at all and in fact continue to flee. The Five key words are TRUST, TRUST, TRUST, TRUST and TRUST!!!!!!!! BUILD IT!!!!

  15. JOHNSON says:

    GOOD LUCK IN YOUR ENDEAVOURS…SEEM MURKY…MR PILOT. BAD WEATHER OR OUR POOR VISION? WHICH IS WHICH? DEFINE!! NOW!!

  16. NBS says:

    We will never trust ZPF again! End of story. put your money where your mouth is. Stop ALL land seizures immediately and allow ALL Zimbabweans to farm, run tourist venues and wold life etc. Land seizures are on going. look at Mash West. respect property rights indeed! liar!

  17. This is exactly what we are talking about. Give people the opportunity to farm, run businesses but what guarantee will you have that when your crops are ready there will be no other U turn and Chinos is there to do the reaping. As it is there are little suggestions here and there of a U turn in the currency where the Zim dollar might come back. That is why people wont put all they extra money in the banks. You might wake up one morning to find the banks issuing out bearers cheques. You might be away on business to find your US dollars have magically turned into another currency. Prosecute the criminals that have stolen and this will be a step forward. As long as the Temba Mliswa and co roam the street no ones money is safe. A lot of the so called farmers had calves that appeared from no where (stolen).

    • Doris says:

      For sure you can guarantee that if you get the real farmers back on their land and they get finance to get them up and running again – the minute you have a decent crop ready to reap, the farm will be grabbed again and denuded of all its assets. Been there, got the t-shirt. Property rights my arse.

  18. moyokumusha says:

    Mugabe must show he is serious by restoring the rights to the farmers to their land. Respect the title deed holders and see what will happen to our nation.

  19. bam bam says:

    who can even believe a word mugabe says, first he will take your money again and then your property thats how he works. he and his cronies are criminals and they will just take because he has the power.

  20. Tiger Shona says:

    After what he has done to the country and its citizens, the farmers and the busines community, how can you trust this racist Mugabe?
    If it was not that the situation made him fear for his future, he never would have changed his mind.
    Let him reap what he has sowed.

  21. WAKE-UP says:

    We were investors in land & agriculture .Worse even 30 years wasted in a new Zimbabwe , WHO IS THE FOOL AGAIN THAT SAID NO FOREIGN INVESTOR EVER LOST THEIR FUNDS BECAUSE GOV OF ZIMBABWE ACTION , THE WHOLE GOV MUST BE SICK . We are not fools AGAIN !!

  22. Jono Austin says:

    Please. He has emptied the trust bank. He will never get it back. He is a proven liar. It’s really quite simple. He lies. He lies. He lies.

  23. Mlimo says:

    Promises that soon turn into lies that soon turn into hand over your investments to zanupf.

  24. Funganayi Mutamiri (UK) says:

    These are purely economic decisions taken without any political bias.Sufficient advice has been given for Zimbabweans to maturely sort out their political differences and regrettably the Zimbabwean people and economy are suffering whiles the rest of Africa is going forward despite the country’s huge potential.No matter how much I would want to be on this forum I cannot afford to. My number is 00447462812813 and my email address is funganayimutamiri@yahoo.co.uk and I will try my level best to get back to you-

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