EDITOR — Zimbabwe needs to attract investment to get industries running and to get people working again. The biggest economies in the world such as the United States, Japan and China attract billions worth of investment annually because they have favourable investor policies.
Zimbabwe cannot reinvent the wheel by attempting to develop while having policies that aren’t investor friendly. Only the ordinary person will suffer as a result of unfriendly investor policies.
On such policy that needs a re-think is indigenisation. Indigenisation should not be implemented on companies invested in the manufacturing sector because they are creating jobs and uplifting Zimbabwean people.
If the laws aren’t to the investors’ liking they will discourage them from investing in Zimbabwe; forcing them to invest in other countries.
ZANU-PF should prove naysayers wrong about their party by adopting investment friendly laws and adhering to the rule of law.
In order to avoid the shame of abandoning their detrimental indigenisation policy openly they could modify it to make it acceptable to investors.
They could always introduce a reasonable indigenous tax on foreign firms and the revenue collected from that could be used to provide educational scholarships for the underprivileged and other things that would empower people in such communities.
If they do these things the country will prosper and they would not rig the next elections. They’d actually stand a genuine shot at winning them without disputes.
Zimbabwe should do its best to compete for investment with South Africa. If that is done, the economy will be prosper.