Zim must improve on ease of doing business

ZIMBABWE should undertake significant economic reforms if it is to prosper in the coming years.

The country has, in the past, announced plans to reform the economy, and increase private sector participation through foreign direct investment (FDI).

On the economic front, Zimbabwe should work to partially or wholly privatise major Stateowned enterprises that include, but are not limited to sectors like aviation, power, telecommunication and rail.

Furthermore, we should liberalise the logistics sector and enact a law that allows public-private partnerships to progressively open up some sectors of the economy to foreign direct investments.

Under such circumstances, the

African Continental Free Trade Area Agreement comes in handy as well as releasing visa requirements for African Union member States with the aim to enhance regional trade and attract FDI. These efforts are important to attract FDI.

Further, we have also expressed commitment to improve the ease of doing business, modernise the financial sector and enhance macro-economic policies.

Of course, our economy has been facing challenges for too long, but we should start developing since it has potential if managed well.

Low-cost labour and a national airline with more high-profile and world-class passenger connections will possibly have a real potential for investment attraction apart from the growing consumer markets.

Zimbabwe must have well-oriented commercial laws that can shoulder the investment flow that may rise.

We should have a commercial code that we are devoted to enable investments to flourish and create wealth.

The commercial code should address the following: Have a well-versed provisions towards synchronising our trade system; create a simple, but organised procedure towards company formation, function and dissolution; put a well-oriented financial structure in its corporate sense; and incorporate forwardlooking corporate governance system.