Zimbabwe vice president pledges to attract more FDI

GMT 19:38 2015 Saturday ,24 October

Arab Today, arab today Zimbabwe vice president pledges to attract more FDI

President Emmerson Mnangagwa
Harare - XINHUA

Zimbabwean Vice President Emmerson Mnangagwa said Friday that the government remains committed to making the necessary reforms needed for the country to attract Foreign Direct Investment (FDI).

Addressing guests at a reception to mark the 70th anniversary of the founding of United Nations (UN), Mnangagwa said the government has put initiatives meant to improve the business climate.

Zimbabwe has been lagging behind her neighbours in attracting FDI, receiving 545 million U.S. dollars in 2014.

Although this was a 36 percent increase from the 400 million dollars it got in 2013, analysts say much more needs to be done to attract more FDI, especially in terms of easing the way of doing business.

Mnangagwa said the country's success in meeting UN set Sustainable Development Goals hinged on support from external partners, including UN institutions.

"The achievements we recorded during the era of the Millennium Development Goals confirm the importance of a strong partnership and close cooperation between the government and the UN team," he was quoted by state news agency New Ziana as saying.

UN Resident Coordinator Bishow Parajuli told the same gathering that the UN was pleased with the increased engagement between Zimbabwe on the one hand and international financial institutions and other bilateral partners, on the other, which has seen approximately 1.6 billion dollars being channelled to developmental programs

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