The business community has expressed concern over the governmentâ€™s failure to ensure that approved local and foreign investments are implemented to facilitate economic recovery.
According to proposals from the business community on Zimbabweâ€™s investment for consideration by the Ministry of Economic Planning and Investment Promotion, most of the approved projects by the countryâ€™s investment arm, the Zimbabwe Investment Authority (ZIA) are not translating into reality thereby creating a false impression about real investment inflows into the economy.
The Zimbabwe National Chamber of Commerce (ZNCC) Economist, Mr Kipson Gundani says there is need for a workable monitoring policy to ensure that approved investments take shape for the benefit of the economy.
â€œThe Ministry of Economic Planning and Investment Promotion should shoulder the blame for such skewed investment inflows,â€ Mr Gundani said.
The Business Council of Zimbabwe Secretary, Mr John Mufukare says the failure by the Ministry of Economic Planning and Investment Promotion in coming up with a workable tracking system on approved businesses is likely to hinder efforts to restore macro-economic confidence.
â€œWe are also not happy with the current scenario and we hope something shall be done,â€ said Mr Mufukare.
The business community is among other factors recommending Government through the Ministry of Economic Planning and Investment Promotion to embark on an audit of the approved projects and evaluate whether they are being implemented in line with the five year Medium Term Planâ€™s aim of consolidating macro-economic gains.