Mugabe to address investment challenges

via Mugabe to address investment challenges – NewsDay Zimbabwe January 30, 2015

PRESIDENT Robert Mugabe has promised investors that he will address the ease of doing business challenges in Zimbabwe, the visiting French delegation has said.

The delegation — on a reciprocal visit after the Confederation of Zimbabwe Industries (CZI) visited France last year — met Mugabe on Wednesday.

Speaking at the CZI and MEDEF cocktail in Harare on Wednesday evening, head of the French delegation to Zimbabwe Gerard Wolf said the meeting with the President was very positive and the two parties openly discussed the conditions on possible investments in Zimbabwe and these guarantees were addressed during the meeting.

Wolf is the Africa Committee of MEDEF vice-chairman — a business council from France which represents 800 000 companies.

“The meeting with President Robert Mugabe was very positive; we were clear on the conditions on possible major investments in the country and these guarantees were addressed during the meeting.

“We tabled the problem of indigenisation and long-term guarantee on investment. This was addressed and will also be addressed with the ministers,” Wolf said.

The empowerment legislation stipulates that at least 51% of all
businesses operating in Zimbabwe should be in the hands of locals.
Analysts say the piece of legislation scares away potential foreign investors needed to help reboot the economy.

Speaking at the same event, CZI business council member Anthony Mandiwanza said there were three critical things — international participation, credibility of the laws of that country and the extent to which those laws protect the investment and establishment of business opportunities — which business people in Zimbabwe believe will create a positive economic turnaround.

“Number one, the Zimbabwe economy cannot be turned around without international participation. To that extent, we fully appreciated the visit by the French business delegation. The delegation has been accorded the highest status of meeting his Excellency this afternoon [Wednesday], so that speaks from the highest level possible sending a signal that we are warming up to the international community,” Mandiwanza said.

He said there was need to create the environment and opportunities that are conducive for people to come and invest in agriculture, mining, tourism, technology, services and infrastructure development
“What we are saying is those are low-hanging fruit opportunities to invest in technology replacement with minimal cost,” Mandiwanza said.

COMMENTS

WORDPRESS: 5
  • comment-avatar

    the business environment is not conducive in zimbabwe.
    this is because there is no certainty and no rule of law.
    anything can change in an instant.
    look at poor mujuru: she was vice president for 10 years, and suddenly overnight she became a pariah because the presidents wife does not like her.
    mnangagwa does not dare to do anything in case it is used against him.
    if the vice presidents can have no certainty, then how much more uncertain is it for businesses, local or foreign, to invest here.
    we all know that this is true.
    we also know that the problem is mugabe.
    he has completely the role of president to protect himself, regardless of his worth, or rather lack of worth to the nation.
    mugabe must go. the zambians know.

    • comment-avatar
      Jona Amedza Hove 7 years ago

      Sabhuku vharazipi will not say anything much in his address but deception because his nature is ALL BE LONG TO ME so it’s just another waste of the would be investors’ time

  • comment-avatar

    Mugabe IS the problem, Zanu IS the problem.

    Over the past 35 years he and his Mafia have systematically destroyed our nation. Future generations will look back on their treason in the same way as modern generations look back at Hitler and Stalin.

  • comment-avatar
    Michael 7 years ago

    HAHAHA – and the French believe what Mugabe told them. He will let them in and then nationalize their investments – handing it over to his fellow-crooks as soon as his wife decides who should benefit.

    Since there i no Rule of Law in Zimbabwe only duped fools will get involved and then lose everything. Really a sad joke.

  • comment-avatar
    Tiger Shona 7 years ago

    He will only talk about it and do nothing.
    Who will trust him now in any