President Emmerson Mnangagwa Wednesday assured Zimbabwe’s private sector that their investments in the local economy were secure.
He made the remarks at the inaugural Zimbabwe Annual Investor Forum in Harare that was hosted by Alpha Media Holdings (AMH)’s Zimbabwe Independent newspaper in partnership with PiggyBankAdvisor.
Mnangagwa reiterated his government’s “Zimbabwe is open for business” mantra which he said had primed the country for both foreign and domestic investment. NewsDay Zimbabwe quotes him as saying:
I am aware that if you look at the developed and now developed countries like China and the BRICS [Brazil, Russia, India, China and South Africa] countries, it is not only foreign direct investment that has made them developed, but it is also domestic investment.
By domestic investment, we don’t mean we should find among our citizens, people with loads of money. We must have systems that make sure that the little we have is used for projects for development.
I would like to assure you that your investments into our economy are secure, that the operating environment is stable and that you are supported by policy, certainty and regulatory safeguards in this economy.
Mnangagwa said Zimbabwe had made notable growth which blots and speaks louder than the negative rhetoric against the country.
He added that Zimbabwe has a vast untapped potential and investors stand to gain much more by choosing to invest in the southern African country.
There have been concerns over loss of value of investments and the government recently announced a cocktail of measures meant to stabilise the economy.
On the 25th of July this year, the government introduced the Mosi-oa-Tunya Gold Coins in a bid to stabilise the economy by easing demand for US dollars and storing the value of money after the Zimbabwe dollar lost more than two-thirds of its value against the USD this year. The Zimbabwe dollar was reintroduced in June 2019.
Back to top