Zim trying to shake off the Pariah state image - Mashakada

Zim trying to shake off the Pariah state image - Mashakada
Published: 21 March 2012 (2417 Views)
HARARE - Zimbabwe's Economic Planning and Investment promotion minister, Tapiwa Mashakada has told delegates to the Euromoney Zimbabwe Investment Conference here in Harare that the two day indaba is not only focused on luring Foreign Direct Investment but on how the country can harness its abundant local resources.

He said the country would take advantage of international investors to shake off the bad investment climate imaged brought about by the controversial indigenization law.

Officially opening the second edition of  Euromoney Zimbabwe Investment Conference, Mashakada said, "We are trying to shake-off the pariah state image… We are a growing economy and our macro-economic fundamentals have stabilized," said Mashakada in his brief address.

Zimbabwe has vast untapped natural resources which the country is not utilising to the benefit of the economy.

However, he said that process would take some time to achieve desired effects.

The minister said the country's growth rates of over 9% paralleled those of emerging economies India, Brazil and China.

Zimbabwe's economy is expected to be grow by at least 9,4% this year.

The country's efforts to attract FDI has continued on a slow pace as it only managed to garner $250 million against $55 billion that went into African economies last year.

At least 400 people are attending the event which ends Thursday.

Participants are upbeat that the conference would ease negative mind sets on Zimbabwe being a risk business destination. Potential Investors have long expressed concern on several policy inconsistencies by government which make it difficult to reach firm decisions to invest.

Speakers at today's event will include Finance minister Tendai Biti, Deputy Prime Minister Thokozani Khupe, Minister of Economic Planning and Investment Promotion Tapiwa Mashakada, director of Euromoney conferences Christopher Garnett, Emerging Capital Partners chief investment officer managing director Andrew Brown, founding partner African Century Jonathan Chenevix Trench, Institute of Directors UK chief economist and director Graeme Leach, AICO Africa group chief executive officer Patrick Devenish, World Bank Zimbabwe African Development Bank lead economist Damoni Kitabire.


- Byo24News

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

List of Zimbabwean celebrities who became politicians

by Mandla Ndlovu | 22 April 2019 | 148 Views

NSSA pensioners are 'dying a little each day'

by Tondo | 22 April 2019 | 97 Views

The Gukurahundi Solution

by The Gukurahundi Solution | 22 April 2019 | 88 Views

Is there the biblical 'Lot's wife' among us?

by Tondorindo | 22 April 2019 | 92 Views

Just enjoying our Katuruturu as it is now Zituruturu

by MuHwisiry Chaiyeiye | 22 April 2019 | 79 Views

'Army now fed up with civilians' Jonathan Moyo says

by Mandla Ndlovu | 22 April 2019 | 149 Views

WATCH: Apostle Vutabwashe blasts Mnangagwa's government

by Mandla Ndlovu | 22 April 2019 | 166 Views

Analysts defend Tinashe Kachingwe

by Mandla Ndlovu | 22 April 2019 | 98 Views

'Corruption and cronyism worrying Mnangagwa' ZANU PF MP says

by Mandla Ndlovu | 22 April 2019 | 128 Views

ZANU PF launches 10 000 youths to fight for a mine?

by Mandla Ndlovu | 22 April 2019 | 130 Views

Cyclone Idai victims resist tent homes

by Staff reporter | 22 April 2019 | 93 Views

Price controls the only way to go, says Mutodi

by Staff reporter | 22 April 2019 | 85 Views

Chamisa faces VPs Dilemma

by Staff reporter | 22 April 2019 | 106 Views

Cyclone Idai donations 'looting' soldiers freed

by Staff reporter | 22 April 2019 | 79 Views

Churches taking anti-sanctions crusade to opposition parties

by Staff reporter | 22 April 2019 | 73 Views

Registrar of Deeds dragged to court

by Staff reporter | 22 April 2019 | 63 Views

Chamisa urged to back Mwonzora's bid

by Staff reporter | 22 April 2019 | 97 Views

Bosso, Dembare beaten again

by Staff reporter | 22 April 2019 | 86 Views

Minister fouls Mnangagwa's plans fouled by Owen Ncube

by Staff reporter | 22 April 2019 | 100 Views

Tsvangirai turning in his grave, says daughter

by Staff reporter | 22 April 2019 | 77 Views

Mnangagwa pleads with Diasporans

by Staff reporter | 22 April 2019 | 76 Views

Chamisa unveils Mwonzora, Mudzuri rescue plan

by Staff reporter | 22 April 2019 | 77 Views

11 dead in kombi, Honda fit head-on accident

by Staff reporter | 22 April 2019 | 89 Views

War vets slam bread price hike

by Staff reporter | 22 April 2019 | 128 Views

Charumbira calls for truce in boundary row

by Staff reporter | 22 April 2019 | 105 Views

Mnangagwa hopeful on economy

by Staff reporter | 22 April 2019 | 120 Views

Revolution is the great teacher

by Reason Wafawarova | 22 April 2019 | 98 Views

Econet raises RTGS$479 287 for Idai relief through EcoCash

by Staff reporter | 22 April 2019 | 86 Views

Chief Mvuthu's family in fresh wrangle

by Staff reporter | 22 April 2019 | 87 Views

'Mnangagwa to crack whip on errand businesses'

by Staff reporter | 22 April 2019 | 87 Views

Artisanal miner shot dead

by Staff reporter | 22 April 2019 | 89 Views

'Zimbabwe public finances in bad shape'

by Staff reporter | 22 April 2019 | 44 Views

It's time for South Africa to rethink the economy

by Tapiwa Gomo | 22 April 2019 | 83 Views

'Mnangagwa won't take Zimbabwe anywhere'

by Staff reporter | 22 April 2019 | 92 Views

Military rifle recovered from poachers

by Staff reporter | 22 April 2019 | 90 Views

MDC led council not going back on tariff increase

by Staff reporter | 22 April 2019 | 79 Views