Don't shun Zimbabwe, Euromoney chief tells investors

Don't shun Zimbabwe, Euromoney chief tells investors
Published: 21 March 2012 (1502 Views)
HARARE - Richard Banks, Euromoney's director for emerging markets has said there is no reason for international investors to continue shunning Zimbabwe as he believe the controversial indigenisation law does not bar investors doing business with the country.

Banks is in Zimbabwe attending the two day investment conferencewhich is on its second edition.

"My reading of the (indiginisation) law is that it does not bar investors from doing business with Zimbabwe. To me I think it's a good policy but authorities should clarify various clauses," said Banks.

On Tuesday, Banks gave a press briefing on international investment climate, Zimbabwe investment opportunities, the role of the media in promoting Zimbabwe's global image, the role of Asia and Arab investors in emerging markets and financing investment.

Banks said the indigenization law has some good elements for locals classifying some investors who view it as draconian as "incentive investors."

He said such investors leave the country once resources have been fully exploited but leave assets for the locals.

On why investment is not tricking to Zimbabwe, Banks explained that investors who want to do business in emerging markets take about two years to come with a firm decision.

He emphasized that his company is "Zimbabwe to stay" and investment climate in Dubai is not conducive.

Banks said Zimbabwe presented a lot of opportunity for investors.

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

Of the Zimbabwe bird and political ignoramuses

by Nobleman Runyanga | 23 April 2019 | 41 Views

Call to arrest August 1 killer soldiers

by Staff reporter | 23 April 2019 | 78 Views

Mnangagwa's Zanu-PF to amend constitution

by Staff reporter | 23 April 2019 | 66 Views

Mliswa attacks journalists

by Mandla Ndlovu | 23 April 2019 | 52 Views

PHOTOS: Strive Masiyiwa meets Botswana President

by Mandla Ndlovu | 23 April 2019 | 70 Views

Mr Selo Nare's "Justice" must be Real Justice.

by Bhobha Mazhandu | 23 April 2019 | 38 Views

Jonathan Moyo fires shots at Mnangagwa

by Mandla Ndlovu | 23 April 2019 | 98 Views

POSA replacement Bill gazetted

by Staff reporter | 23 April 2019 | 54 Views

Fake money backfires

by Staff reporter | 23 April 2019 | 70 Views

WATCH: Historic ZITF opens

by Staff reporter | 23 April 2019 | 52 Views

Madlela to share stage with Shwi, Freddy in SA

by Staff reporter | 23 April 2019 | 47 Views

Border jumper jailed for stealing wheelchair

by Staff reporter | 23 April 2019 | 53 Views

Banks move to arrest card cloning incidents

by Staff reporter | 23 April 2019 | 64 Views

Family whips granny to death over witchcraft

by Staff reporter | 23 April 2019 | 50 Views

Triangle break Madinda's heart

by Staff reporter | 23 April 2019 | 60 Views

Zec warms up for 2023 polls

by Staff reporter | 23 April 2019 | 51 Views

Man fined for exposing genitals to minors

by Staff reporter | 23 April 2019 | 56 Views

Dembare fans demand coach's head

by Staff reporter | 23 April 2019 | 46 Views

Mnangagwa moves to slash bread price

by Staff reporter | 23 April 2019 | 77 Views

MDC congress: Does real democracy exist?

by Learnmore Zuze | 23 April 2019 | 40 Views

Easter Holiday accidents kill 24

by Staff reporter | 23 April 2019 | 48 Views

Of market forces and price hikes

by newZWire | 23 April 2019 | 41 Views

MDC seeks to close ranks in Bulawayo

by Staff reporter | 23 April 2019 | 47 Views

Mnangagwa, Chamisa to meet at Tsvangirai memorial?

by Staff reporter | 23 April 2019 | 84 Views

6 000 delegates for MDC congress

by Staff reporter | 23 April 2019 | 46 Views

War vets call for unity as economy bites

by Staff reporter | 23 April 2019 | 47 Views

Price madness: Manufacturers blame retailers

by Staff reporter | 23 April 2019 | 43 Views

Mnangagwa warned of brewing unrest

by Staff reporter | 23 April 2019 | 54 Views

Zanu-PF, war vets in fresh row

by Staff reporter | 23 April 2019 | 39 Views

Govt withholds teachers' salaries over protests

by Staff reporter | 23 April 2019 | 26 Views

Advanced Level Family and Religious Studies: Parables

by Brian Maregedze | 23 April 2019 | 42 Views

Structural reforms crucial for turnaround

by Editorial - Daily News | 23 April 2019 | 37 Views

'Zimbabwe economic crisis is not about currency'

by Staff reporter | 23 April 2019 | 23 Views

PHOTO: Greyhound bus burnt to a shell

by Methusi Ncube | 23 April 2019 | 85 Views