FINANCE and Investment Promotion Minister Mthuli Ncube has encouraged Zimbabweans living in the UK to consider investing back home considering the emerging convenient macro and micro economic environment.
In his keynote address at the Zimbabwe Investment and Capital Markets Conference in London on Monday, Ncube hailed the United Kingdom as a strategic country and partner for Zimbabwe, not only because of the historical connection but because many diasporans are working there and keen to invest back home.
He said this year’s conference being the second visit provides an opportunity to reflect on progress made to date and improvements required to achieve this goal.
“For us, this is necessary that we invest in information sharing with all potential investors under the theme, “Investing in People Who Invest in Us”.
“As some of you may be aware, Zimbabwe has a Vision of becoming an upper middle-income status by the year 2030. Its achievement hinges on investment momentum by both the Government and the private sector,” he said.
The Treasury boss underscored that the thrust is to have a private sector-led economy with the Government playing a facilitatory role in ensuring a stable macroeconomic environment, investing in appropriate physical and technological infrastructure.
He underscored that Private sector investment activities, particularly foreign direct investment (FDI) will complement the country’s national development efforts by enhancing technological transfer, deepening productive linkages and value chains as well as boosting overall competitiveness.
“Let me hasten to inform you that the US has reviewed its sanctions on the country by abolishing the Executive Orders which empowered the Office of Foreign Assets Control (OFAC) to monitor transactions related to Zimbabwe.
“What this simply means is that private business is free to do business with Zimbabwe without fear of being sanctioned by the US Government,” said Ncube.
Credit: NewZimbabwe.com
