Zim 'to fine-tune foreign investment policies'

2014-05-07 10:57
Finance Minister Patrick Chinamasa. (File, AFP)

Finance Minister Patrick Chinamasa. (File, AFP)

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Clinton too junior to criticise Mugabe, says aide
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US presidential hopeful Hillary Clinton is too junior to criticise President Robert Mugabe, who "relates to sitting heads of states and not aspiring candidates", his spokesperson has reportedly said.

Cape Town – Zimbabwe's finance minister Patrick Chinamasa has reportedly told an industrial conference in Harare that the country is ready to fine-tune policies to lure foreign investment.

According to Xinhua, Chinamasa said Zimbabwe will not enforce policies that might cause confrontation with foreign investors.

Chinamasa admitted that Zimbabwe was too small to pursue a policy of confrontation, adding that the country would look for mutually beneficial economic relationships.

Zimbabwe is facing severe liquidity challenges and a slower economic growth rate of around 3%, the report said.

Critics have blamed the government's indigenisation policy, among others, for stalling foreign investment inflows. The indigenisation, which was enacted in 2010, requires foreign businesses operating in the country to cede 51% share- holding to black Zimbabweans.

President Robert Mugabe recently assured spooked foreign investors that his indigenisation policy was not about asset seizures, softening his tone amid renewed economic troubles.

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