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Minister Simon Khaya Moyo

THE government says it has come up with a number of investment incentives meant to attract both local and foreign investors as it prepares for an economic boom. Economic Planning and Investment Promotion Minister Simon Khaya Moyo said on Tuesday that a new investment impetus was beckoning. He said the government was working on a number of measures meant to make doing business easy as well as open up opportunities for rapid economic growth.

Minister Khaya Moyo said the major thrust will be on value addition and beneficiation as well as tourism. The government has set itself an economic growth target of 7,3 percent under its economic blue print, Zim-Asset, and Minister Khaya Moyo said this calls for increased local and foreign investment in major sectors of the economy.

The Minister said attractive investment incentives will be offered for those that invest in value addition and beneficiation as well as those that will invest in the planned special economic zones. “We’re working tirelessly on the operationalisation of special economic zones,” said Minister Khaya Moyo. He said he was already engaging Chinese companies that have shown interest in assisting the country to set up the special economic zones. Special economic zones, Minister Khaya Moyo said, will be complemented by export processing zones that will be anchored on promoting increased beneficiation and value addition.

Many foreign companies have shown interest in investing in Zimbabwe and what many of them were waiting for was a conducive investment climate. It is pleasing to note that 28 Iranian companies are participating at the Global Small and Medium Enterprises exposition underway in Harare.

The expo is meant to promote synergies between Zimbabwean and Iranian companies. This is evidence enough that foreign companies have confidence in the Zimbabwean economy and the challenge therefore is to ensure that the government meets its part of the bargain. Zimbabwe is endowed with a wide range of natural resources such as mineral deposits that many foreign investors are seeking and what is required is to ensure attractive investment incentives are in place. The country is also rich in human resources hence its skilled manpower is sought after the world over.

At home, Zimbabweans should also take the lead in exploiting their own resources. What this entails is that businesspeople must pool resources together or enter into joint ventures with foreign partners to enable them to establish big companies. Gone are the days when Zimbabweans confined themselves to retailing as general dealers or operated bottle stores.

Graduates from our universities with entrepreneurship skills should venture into manufacturing or processing minerals such as platinum.

We want to once again implore the government to move with speed to create an attractive investment environment which is critical to turn around the economy