Zimbabwe ‘open for business’ says Mnangagwa

HARARE,– Zimbabwe’s President Emmerson Mnangagwa says his country is open for business and that all foreign investment is safe, with investors able to repatriate profits.

Mnangagwa was speaking at a meeting with business leaders on Thursday ahead of his maiden trip to the World Economic Forum in Davos next week. He is under pressure from civic society, investors and opposition parties to implement political and economic reforms.

“I am aware that most of our business require injection of new capital from foreign investors and I want to reiterate that all investments will be safe and secure in Zimbabwe. Foreign investors will be able to repatriate profits from their all investments in our country and all Bilateral Investment Promotion and Protection agreements (BIPPA) will be honoured,” he said.

“Come and invest in our country.We are open for business.(For) those who want to do business, Zimbabwe is one destination you can do business comfortably. That is the message that we are taking to Davos.”

Under former president Robert Mugabe, Zimbabwe failed to attract foreign direct investment with investors pointing to policy inconsistencies, rampant corruption, red tape and disregard for property rights, which Mnangagwa said will be a thing of the past.

“Our economy had deteriorated so much that we need to work together pulling in the same direction to resuscitate it. Outsiders can only compliment our efforts.” – Source