Economic Planning and Investment Promotion minister Tapiwa Mashakada says the government is encouraged by the performance of the one-stop shop (OSS) centre as evidenced by increased investment approvals in the first quarter by Zimbabwe Investment Authority (ZIA).
ZIA has indicated that it expects to attract more investment, in value terms, than in previous years as a result of the economic stabilisation and the launch of the OSS last year.
The OSS is supposed to reduce the red tape delays that investors were experiencing registering their businesses.
Under the current set-up the processing of all the paperwork for new investors is supposed to take five working days from the previous 96 days.
“OSS is a developing institution which is expected to increase its capacity and operational efficiency gradually. It has excited investors who are giving us feedback that it is a positive institution,” said Mashakada.
The economic planning minister said the ongoing indigenisation drive had not dampened investment by prospective investors.
“There is no correlation between investors and indigenisation,” said Mashakada. ZIA approved investments projects worth $146 million in the first three months of this year.
The projects including those in agriculture, mining, construction, tourism, services, transport and manufacturing have a potential of creating 2 301 jobs and a potential of earning $67,4 million in export earnings for the country.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
The approved figures for the first half of 2011 were higher compared to last year in terms of employment creation and expected export earnings.
Last year same period 1 738 jobs were created and $8,8 million was the potential foreign earnings for the country. The total investments stood at $69,8 million
