Zimbabwe unveils dispute resolution protocols to a...

Zimbabwe unveils dispute resolution protocols to attract investors

By Nyashadzashe Ndoro

Chief Reporter

The Zimbabwe Investment and Development Agency has made significant strides in strengthening the country's dispute resolution protocols, bolstering investor confidence and solidifying Zimbabwe's position as a favorable investment destination.

According to ZIDA's quarter three (Q3) 2024 report, notable advancements include Zimbabwe's contributions to the African Continental Free Trade Agreement (AfCFTA) negotiations. The Zero Draft Annex outlines procedures for dispute prevention, management and resolution under the investment protocol.

Domestically, legislative amendments streamline capital gains tax, facilitate yeast imports and regulate cement. Medicinal cannabis producers are now exempt from customs duties and VAT.

The country has witnessed a 9% increase in issued licenses, totaling 168, with a projected investment value of US$1.171 billion. Mining and energy sectors are attracting considerable investment.

ZIDA CEO Tafadzwa Chinamo confirmed the agency's progress in finalising Public Private Partnerships guidelines and conducting provincial workshops to enhance investment proposal quality.

"Following Cabinet's approval of the Public Private Partnerships (PPP) Policy Framework in the second quarter, the Agency embarked on drafting guidelines, which will establish regulations. subject to which all PPPs in Zimbabwe will be administered. This important endeavour is 90% complete, and we anticipate its finalization in the fourth quarter," Chinamo stated.

"PPP's are a key driver for infrastructure development and economic growth, as such, these guidelines will ensure that contracting authorities will achieve their objectives in a cost effective manner while providing counterparties (private sector partners to PPP agreements) a fair return on their investment."

ZIDA participates in global economic negotiations. Currently, ZIDA is negotiating economic partnerships with China, focusing on cooperation and development.

ZIDA advises on EU-ESA5 trade negotiations, covering investment liberalization, digital trade and regional economic integration. The talks aim to establish favourable trade conditions between the European Union and Eastern and Southern Africa (ESA) states, including Zimbabwe.

ZIDA's international engagement aligns with its mandate to promote investments, facilitate economic growth and develop Zimbabwe's economy. The agency provides information on investment opportunities, legal requirements and business procedures, supporting both domestic and foreign investors.