Zimbabwe to cut company registration period to within 6 hours

Zimbabwe to cut company registration period to within 6 hours
Published: 23 October 2018 (282 Views)
Government is targeting to register companies within six hours in the next two years as the country's ease of doing business reforms gather pace, President Emmerson Mnangagwa has said.

This comes at a time when Zimbabwe is moving to become an investment "destination of choice" through the launch of a one-stop investment centre (OSIC) where all investment processes will be completed without hassles.

The one-stop shop will operate under the auspices of the Zimbabwe Investment Development Agency. Zimbabwe, which launched the One-Stop-Shop Investment Centre in December 2010 wants to take the Rwanda OSIC investment model which processes investor enquiries in a few hours' time.

Speaking at the Professional Women, Women Executives and Business Women's Forum meeting recently in Harare, President Mnangagwa said Zimbabwe was determined to cut company registration period to make it easier for both local and international investors.

"When I went to Rwanda to see my counterpart President Paul Kagame this year, I was pleased to learn that it only takes six hours to register a company. I told him that in the next year or two we will reduce company registration time to less than six hours," said Mnangagwa.

"Currently, it takes close to three days to register a company from the previous 90 days a year ago, which means we are making progress as far as ease of doing business is concerned."

Among the problematic factors in the country's ease of doing business are corruption, access to financing, policy instability and inconsistency, inefficient government bureaucracy and inadequate supply of infrastructure.

President Mnangagwa said: "It's government's desire to eliminate, by all means, the stumbling blocks (corruption and policy instability among other problematic areas) that affect the smooth operation of business in Zimbabwe with a vision of creating one of the most attractive, rewarding and cherished investment climates in the world.

"It's our hope that through addressing issues that have a bearing on the country's competitiveness, we will at least reach a two digit ranking on the Global Competitiveness Index and a better ranking will open up opportunities for Foreign Direct Investment (FDI) into the country." Experts suggest that if these sticky issues are not attended to the country investment opportunity will count for nothing as some investors will favour other countries with relaxed investment climate.

- businesstimes

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Government sells NetOne and TelOne

by Mandla Ndlovu | 20 March 2019 | 55 Views

How Prophet Isaiah Sovi foretold Cyclone Idai

by Mandla Ndlovu | 20 March 2019 | 98 Views

'Joshua Nkomo made Mugabe the leader of ZANU in 1975'

by Mandla Ndlovu | 20 March 2019 | 82 Views

Water shortage to increase in Harare

by Mandla Ndlovu | 20 March 2019 | 59 Views

#Cyclone Idai: Mnangagwa on the ground

by Staff reporter | 20 March 2019 | 63 Views

Zesa gets new board

by Staff reporter | 20 March 2019 | 52 Views

Chamisa wants MPs to push for Department of Civil Protection reform

by Staff reporter | 20 March 2019 | 55 Views

Heavyweights vie for ZACC posts

by Staff reporter | 20 March 2019 | 38 Views

Leyland eyes Zimbabwe bus plant

by Staff reporter | 20 March 2019 | 43 Views

Potraz summons Liquid over tariff hike

by Staff reporter | 20 March 2019 | 42 Views

ZCTU bosses' freedom bid quashed

by Staff reporter | 20 March 2019 | 29 Views

Over 100 trucks transporting Zimbabwe wheat stuck in Mozambique

by Staff reporter | 20 March 2019 | 41 Views

Ex-Zanu-PF Senator sued over $368k power debt

by Staff reporter | 20 March 2019 | 49 Views

Bulilima West MP bemoans absence of referral hospital

by Staff reporter | 20 March 2019 | 41 Views

MP takes council to task over floods

by Staff reporter | 20 March 2019 | 39 Views

Men jailed 2 years for defacing Mnangagwa banner

by Staff reporter | 20 March 2019 | 47 Views

Man (21) kills brother (15) over food

by Staff reporter | 20 March 2019 | 46 Views

Headman leaves behind 35 children

by Staff reporter | 20 March 2019 | 52 Views

Mash Central MDC youth leader out on bail

by Staff reporter | 20 March 2019 | 22 Views

MDC MP seeks removal from remand

by Staff reporter | 20 March 2019 | 21 Views

Victoria Falls mall ready to open

by Staff reporter | 20 March 2019 | 29 Views

BCC faces questions over lavish spending

by Staff reporter | 20 March 2019 | 21 Views

Mnangagwa resurrects Beitbridge District club

by Staff reporter | 20 March 2019 | 18 Views

New Zesa board tasked to curb corruption

by Staff reporter | 20 March 2019 | 24 Views

#CycloneIdai: 500 still missing as rescue efforts continue

by Staff reporter | 20 March 2019 | 24 Views

Gukurahundi play gets Nama nomination

by Staff reporter | 20 March 2019 | 22 Views

'Chamisa visit to #CycloneIdai hit areas a publicity stunt'

by newzimbabwe | 20 March 2019 | 52 Views

Mnangagwa to splash on riot gear

by Staff reporter | 20 March 2019 | 56 Views

Zimbabwe inflation to decline to 10%

by Staff reporter | 20 March 2019 | 22 Views

WATCH: Cyril Ramaphosa threaten foreigners in South Africa

by Staff reporter | 20 March 2019 | 33 Views

Candidates nominated for ZACC - full-list

by Parliement | 20 March 2019 | 25 Views

WATCH: Lobengula's grave site revealed

by Mandla Ndlovu | 20 March 2019 | 30 Views

Zimbabwe Hindus launch Idai relief efforts

by Agencies | 20 March 2019 | 18 Views

'Cyclone victims being buried in mass graves'

by Staff reporter | 20 March 2019 | 24 Views

Zimbabwe army rescues 20 marooned villagers

by Staff reporter | 20 March 2019 | 31 Views

Students recount sleeping with corpses #CycloneIdai

by Staff reporter | 20 March 2019 | 25 Views

Build to live not just stay

by Thomas Murisa | 19 March 2019 | 106 Views

Muzamhindo pushes for a Policy Indaba

by Tinashe Eric Muzamhindo | 19 March 2019 | 102 Views