Zimbabwe’s newly introduced online business registration is yielding results with 4 000 local and foreign companies having submitted proposals to set up projects during the first quarter.

The Registrar of Companies, Mr Willie Mushayi says the initiative which was launched in January this year, has translated into increased submission of applications by firms that are interested in establishing their business units across the country.

Before the establishment of the online business registration it was difficult for those intending to set up businesses as they had to visit several offices for clearance procedures.

However, Mr Mushayi says online application systems to register a company are also an indication of the government’s commitment to improve the nation’s competitive edge against other regional economies.

“We are doing our best to improve viability and it is our hope that in the long term the trend will definitely improve for the benefit of the nation,” says Mr Mushayi.

Zimbabwe is also forging ahead with the ease of doing business reforms to increase foreign direct investments and improve viability of companies.