The Zimbabwean Cabinet yesterday approved strategies for the second phase of the Ease of Doing Business Reforms that were presented by Minister of Finance and Economic Development, Professor Mthuli Ncube.
The Ease of Doing Business assessment ranks the country’s business environment based on a set of indicators compiled by the World Bank Doing Business Project that cover ten areas in the life cycle of a business.
Publicity and Broadcasting Services Minister Monica Mutsvangwa, revealed this after a Cabinet meeting in Harare.
“During the 2019/2020 period, Zimbabwe was ranked among the top twenty improvers in Doing Business Reforms. In general, there has been considerable progress in the country’s World Bank ranking from number 171 out of 190 countries in 2015 to the current position of 140 out of 191 countries.
“To date, eight of the 10 pieces of legislation requiring amendment or enactment have been assented to. The foremost investment promotion institution, the Zimbabwe Investment Development Agency (ZIDA), was established in 2019, while four commercial courts have been set up in the major cities and some administrative procedures streamlined to reduce investment-related bottlenecks,” said Minister Mtsvangwa.
Phase Two of the Ease of Doing Business Reforms, which commenced in 2019, focuses on implementing the strategies required to achieve tangible results that are experienced by stakeholders and the intended beneficiaries.
“These are being implemented in sixteen identified areas broken down into two categories, namely: the first category which relates to nine areas of the World Bank Ease of Doing Business indicators; and the second category covering seven sector-specific areas,” she said.
The are strategies being applied through the responsible line Ministries and their Technical Working Groups.
In all these processes, the Zimbabwe Investment and Development Agency (ZIDA) plays a central role in resolving all the challenges affecting investors in the business operating environment.
More to follow