Zim policies hamper FDI: World Bank

HARARE - Zimbabwe must address its “unwelcoming” policies to attract Foreign Direct Investment (FDI) it desperately needs, the World Bank said.

In its latest trade competitiveness report on the southern African country, the regional lender said Zimbabwe’s current investment policies pose a significant delimitation to FDI.

“Investment levels remain very low outside the large-scale mining sector,” it said in the 116 page report, adding that “the main reason behind this stunted FDI is repulsive policies being implemented in the country.”

The institution also said that apart from the large-scale exploitation of known deposits in mining, the country has virtually failed to attract foreign and domestic investors, to accelerate export growth.

“Current policies pose a hazard to FDI, at a global level countries are liberalising their regulatory frameworks to connect to the global value chains... Zimbabwe has however taken the opposite tact, subsequently scaring away any form of investment,” says the report.

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