The Sunday Mail
Lincoln Towindo and Debra Matabvu
Foreign investors are keen to do business with Zimbabwe because its broad policy objectives are clear and ensure investment security, a senior British diplomat has said.
Britain’s Ambassador to Zimbabwe, Ms Catriona Laing, told The Sunday Mail that the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset) clearly outlines short and long-term economic development plans.
She indicated that foreign investors wanted such policy clarity and that London’s five-man trade delegation that was in Harare last week demonstrated investors were warming up to Zimbabwe.
The delegation met senior Government officials, among them Vice-President Joice Mujuru and Finance and Economic Development Minister Patrick Chinamasa.
“We (and the VP) talked about how this delegation can support Zim-Asset. We talked about some of the assurances that the Government has been providing around investor confidence, for example, clarification of the indigenisation law, ensuring their assets will be secure.
“With those clarifications, I think there is a very positive feeling on both sides that there are opportunities here for British companies to take advantage of. I think we are in a different position. The Zim-Asset process itself sets out very clearly what the Government’s policy is.”
Ms Laing continued: “Through the International Monetary Fund Staff Monitoring Programme, it is clear now what policy steps the Government needs to take to translate Zim-Asset into concrete investments.
“As I have mentioned, there is still some way to go for those policy commitments to be followed through, in particular indigenisation. But Minister Chinamasa made me a very strong commitment in recognition that there is need to clarify indigenisation because the investors are very clear what kind of environment they would want to go into.”
Head of the trade delegation Mr Alex Lambeth said his mission targeted social and physical infrastructure investment.
“We will be going back home with a very positive message and certainly hope to, in the future, build upon this.
“We will have an event in London looking at the outcomes of the trade mission and look at where our organisations can take things forward.
“The specialisation of the group is primarily in social and physical infrastructure. So, we have been looking at project finance, roads, rail and facilitating development plans.”
The delegation was the first the British government has dispatched to Zimbabwe since relations between Harare and London soured over 14 years ago over land reforms.
The delegation comprised consultants who help British companies develop businesses overseas.
Prior to the visit, the British Foreign Office had released a report claiming Zimbabwe was “a country of concern” and “fragile”.
Political analyst Dr Nhamo Mhiripiri said the British were worried about Chinese and Russian inroads into Africa.
“(Other international players) have come to Zimbabwe. They (the British) certainly do not want to be left behind. The IMF was here, the European Union has removed trade sanctions; they want to be part of it.
“It is quite ironic, though, that they label Zimbabwe ‘fragile’ because evidence shows that the country has been stable in spite of the economic meltdown. Zimbabweans have remained united, peaceful and have persevered even during hardships. So, we cannot talk of fragility.”
Economist Mr Christopher Mugaga added: “It is difficult to conclude at the moment. However, the coming of the delegation coinciding with the coming of the new ambassador could perhaps show that they are willing to strengthen business ties with Zimbabwe.”
