The Second Republic is accelerating the implementation of the Ease of Doing Business reforms to ensure that all legislative and administrative bottlenecks, which affect the ease of doing business are eliminated. Ease of Doing Business measures focus mainly on ten areas namely:
- Starting a business
- Dealing with construction permits
- Getting electricity
- Registering property
- Getting credit
- Protecting minority investors
- Paying taxes
- Trading across borders
- Enforcing contracts
- Resolving insolvency
These measures are very critical for the success of existing business in the country as well as attracting foreign investors. Some of these measures include the Staff Monitored Programme (SMP) recommended by the IMF (International Monetary Fund), alignment of legislation with the Constitution, replacement of the Public Order and Security Act by the Maintenance of Peace and Order Bill, formulation of media Bills among other positive steps that the country had made so far.
Through promulgation of the Public Entities Corporate Governance Act, the Government is committed to improving the performance of State-Owned Enterprises through partial privatisation. Partial privatisation presents investment opportunities to investors for partnering Government in these state-owned companies.
Zimbabwe established and constituted the Zimbabwe Anti-Corruption Commission seized with combating corruption and crime. ZACC has since been conferred with arresting powers as the government takes a major stride in its quest to tackle the scourge of corruption.
Zimbabwe’s trajectory of implementing democratic, political, and economic reforms as well as improving the ease of doing business in the country will ensure that the country provides a favorable investment climate.