Gift Mashoko

Minister of Justice, Legal and Parliamentary Affairs, Ziyambi Ziyambi has assured investors that Government is in the process of creating a conducive environment for investors through the formation of Zimbabwe Investment Development Agency (ZIDA) Bill which strives to eliminate bureaucratic bottlenecks that have been frustrating investors over the years.

Responding to Kwekwe Central Member of Parliament (MP) Masango Matambanadzo yesterday on how investors can get confidence on repatriation of their investment returns, Minister Ziyambi said Government was working on ZIDA so as to boost investor confidence.

“The Government is in the process of making a bill called Zimbabwe Investment Development Agency (ZIDA) Bill. The bill includes issues to do with repatriation of investor money. It explains how investors can repatriate their profits.

The Bill is almost done and soon we will be able to debate the provisions for investors to be confident,” he said.

Minister Ziyambi went on to say that in the time being, people can make use of a committee that was set by President Emmerson Mnangagwa.

“Since the bill is still in the process of being finalised, the Government has put in place a committee that looks into these investment issues. The committee is being led by Permanent Secretary in the Office of the President and Cabinet Dr Washington Mbizvo.

“This is a very competent team as they have the know-how as to how to safe guard investors’ money. Investors can be taken to this team to get full understanding and get investor confidence,” he said.

Government is committed to guaranteeing investment safety as well as reducing business registration period from 90days to a maximum of four days. ZIDA is based on a Rwandan approach following President Mnangagwa’s visit to the country, hence the removal of bureaucracy which saw prospective investors taking up to 90days going from office to office in different ministries.