By Tendai Matunhu
The Ease of Doing Business Reforms based on the ten World Bank Doing Business indices, is now on the second stage and is moving right on track, a Cabinet Minister has said.
Speaking at the 38th Cabinet Meeting Decision Matrix in Harare yesterday, Minister of Finance and Economic Development, Mthuli Ncube, said, “The reforms are based on the ten World Bank Doing Business Indices which are starting a business, construction permits, access to electricity and other public utilities, registering property, access to credit, protecting minority investors, payment of taxes, facilitation of cross-border trade, enforcement of contracts and resolution of insolvency.”
Minister Ncube said Cabinet had also noted that to date, President Emmerson Mnangagwa has assented to eight of the sixteen pieces of legislation which required consequential amendment.
“Four Commercial Courts have been established in the country’s major cities. To give due prominence to the reforms, Cabinet agreed to set up an inter-Ministerial Cabinet Committee or Task Force of task force of key line Ministries to superintend the Ease of Doing Business Reform Programme in order to transform the country’s business environment, promote local and foreign investment, create wealth and jobs and improve overall economic performance,” he said.
Cabinet went on to highlight that the country rose up the World Bank Competitive index by 15 places from position 170 to position 140 out of 190 countries.
Speaking during the same cabinet briefing, Minister of Information, Publicity and Broadcasting Services, Monica Mutsvangwa also informed that cabinet discussed the need to take steps to address price hikes through the erosion of incomes.
She said, “Cabinet generally attributed the price hikes to currency volatility, the apparent application of replacement pricing by business owners, adverse inflationary expectations, the high cost of electronic financial transaction, shortage of cash in the economy and increased demand for foreign currency to fund imports.”
Minister of Foreign Affairs and International Trade, Sibusiso Moyo also highlighted on how the majority of SADC countries, the SADC Secretariat, the African Union Commission Chairman and other Governments from beyond the continent also made calls for the immediate and unconditional removal of sanctions imposed against Zimbabwe.
