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Harare Bureau

INVESTORS are in search of a predictable investment destination with clear fiscal policies that guarantee long-term protection of their investments, Rwandan Ambassador to Zimbabwe, Mr James Musoni, has said.

He was addressing delegates to the Zimbabwe National Chamber of Commerce Mashonaland region annual business awards last week.

Amb Musoni also emphasised the need for positive stakeholder engagements between the local private sector and Government if the country is to realise economic success, giving example of his country, which has made significant strides in economic development owing to public private partnerships.

“In Rwanda private sector development is a high priority and the government sees the private sector as an engine for growth and development in the economic reconstruction process.

“Our experience shows that investors are looking for a predictable investment environment with clear fiscal monitoring because they invest and expect returns in periods, which can stretch up to 50 years. So, creating investor friendly climate should be a priority,” said Amb Musoni.

Figures from Rwanda’s Development Board (RDB) show that US$2 billion worth of projects were registered in that country by the beginning of 2019, boosted by major manufacturing and mining projects.

Addressing the same gathering Industry and Commerce Minister, Nqobizitha Ndlovu pointed out that resuscitation of the economy will only take shape if stakeholders are serious with implementing decisions and policies at different levels of engagement.

He said his ministry was serious on elevating the country’s economy hence required committed industrialists with ability to identify and exploit available business opportunities.

“Vision 2030 requires all of us to work hard as team and be consistent in implementing decisions be it at company level, or at individual level.

“Improved performance of industry and commerce is at the centre of our economic transformation and we need drivers who can equip themselves with strong business fundamentals to tap on growth opportunities. He took the opportunity to talk about the transitional stabilisation programme (TSP) aligned initiatives that Government intends to launch in the near future. 

Minister Ndlovu said: “We have committed to implement all our policies and strategies, which include soon to be launched Zimbabwe National Industrialisation Policy, Zimbabwe National Local Content Policy and National Trade Policy among others, these polices are aligned to TSP which prioritises the stimulation of economic growth.”