‘Two-digit GCI ranking achievable’

23 Oct, 2016 - 00:10 0 Views

The Sunday Mail

Livingstone Marufu
GOVERNMENT has urged citizens to shun and expose corruption where it rears its ugly head if the country is to achieve its target of a two-digit Global Competitiveness Index (GCI) ranking in the next two years.Corruption, policy inconsistency and poor access to finance have been identified as key impediments to the Zimbabwe’s competitiveness.
This comes as Zimbabwe climbed one position to 126 in the 2016/2017 GCI rankings.
The GCI, which is compiled by the Geneva-based World Economic Forum, surveys the competitiveness of 144 countries, with special focus on the performance of 12 pillars including appropriate infrastructure, a stable macroeconomic framework, efficient goods and labour markets, and developed financial markets.
Vice-President Emmerson Mnangagwa recently said Government was committed to addressing all issues hindering Zimbabwe’s competitiveness — especially corruption and policy inconsistency.
VP Mnangagwa said it was every citizen’s duty to fight corruption and expose the “retrogressive and immoral habit” as it painted the country as an unfavourable destination for capital.
“It is Government’s desire to eliminate, by all means, the stumbling blocks that affect the smooth operation of business in Zimbabwe, with a vision of creating one of the most attractive, rewarding and cherished investment climates in the world.
“It is our hope that through addressing issues that have a bearing on the country’s competitiveness, we will at least reach a two-digit ranking on the GCI and a better ranking will open up opportunities for foreign direct investment into the country,” said VP Mnangagwa.
In his State of the Nation Address in Parliament last year, President Mugabe pronounced a Ten-Point Economic Plan which emphasised improving the ease of doing business. Point nine of the Plan says the fight against corruption has to be broadened to ensure economic growth.
Ease of doing business reforms, which will see a new Companies Act enacted, are being spearheaded by the Office of the President and Cabinet.
Five technical working groups — paying taxes and trading across borders; resolving insolvency; enforcing contracts; construction permits; and starting a business and protection of minority investors — were created to advance the ease of doing business reforms.
Already, the technical working group on “Starting a business and protection of minority investors” has scored a number of milestones, including creating a draft Companies Bill and reducing the number of days it takes local authorities to approve investment from 56 to five days.
This followed the scrapping of the need to advertise before an investor opened shop as long as they were operating in the “correct area”.
The number of days it takes to start a business has also decreased from 90 to 30 days.
Regards construction permits, the time for issuance has been reduced from 448 to 120 days; while property registration now takes 14 days rather than the previous 36.
It now takes 160 hours to pay taxes, down from 242 hours.

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