Vice President Emmerson Mnangagwa says the government has drafted nine bills to enhance the ease of doing business in the country.
He made the remarks at the official opening of the Zimbabwe National Chamber of Commerce (ZNCC) annual congress in Victoria Falls.
“The bills are at various stages of completion and are a major milestone to the improvement of the ease of doing business in the country,” said Cde Mnangagwa, adding that there is also significant progress in the drafting of eight pieces of legislation which include the National Competitiveness Act, the Deeds Amendment Act and the Judicial Laws Amendment Act.
Vice President Mnangagwa says Chinese investors are already showing interest in investing in the Special Economic Zones (SEZ) following the signing of the bill into law in December last year.
“I am happy to say that ever since the signing of the bill into law, we have had numerous inquiries from investors who are interested in investing into various sectors of the economy under the SEZ facility. I therefore invite local and foreign potential investors to come on board and seize the vast trade and investment opportunities available in various sectors,” he said.
Cde Mnangagwa however expressed concern that Zimbabwe’s production costs are still higher compared to other countries in the region and beyond, making it difficult for locally produced goods to compete effectively in the global market.
“The costs of production are mainly compounded by high costs of capital, labour, electricity, transport and logistics. The 2016 World Bank Report shows that Zimbabwe`s competitiveness remains low,” he added.
The congress is running under the theme: ‘Consolidating the New Normal Economy Through Policy Reforms,’ and is being attended by cabinet ministers and executives from the corporate sector.