Zimbabwe has set an ease of doing business reform ranking, targeting below 100 by October next year, in line with measures being put in place to reduce costs and the duration of setting up new projects in key productive sectors.

The sudden rise in ease of doing business rankings for Zimbabwe to 171 from 155 out of 190 countries in the past few years has seen the government forging ahead with reforms to stimulate business activities.

World Bank group technical expert Mrs Svetlana Bagaudinova noted that the possibilities of an improvement in rankings will, however, depend on commitment to implement proposed reforms.

“It is all about the ability to do the right things at the relevant levels so as to sustain the needs of the country in light of proposed systems within the reforms,” Mrs Bagaudinova said.

An accountant with a local firm, Mr Bulisa Mbano said the private sector should also help the government in ensuring that Zimbabwe emerges as a favourable destination for business.

“The ease of doing business reforms should not only be a government policy or issue alone, but we also need that element where the nation can also unlock value and identify relevant opportunities for growth,” he said.

Reforms of the business environment are also expected to ensure increased productivity, growth and the ability to create jobs as well as contribute to government earnings, according to the Presidential office and Cabinet’s senior principal director, Mr Solomon Mhlanga.

“We are going to explore all the relevant systems to ensure that the process becomes a reality for the benefit of all productive sectors,” said Mr Mhlanga.

In a related development, government and the private sector held a meeting on Monday (today) to review progress within the reforms in terms of property registration, construction permits, access to electricity by firms, credit facilities, contract reinforcements, trading across borders and resolving insolvency.