Story by Davison Vandira
THE Reserve Bank of Zimbabwe (RBZ) has taken advantage of the ongoing Zimbabwe – China Business Forum to assure potential investors of the safe repatriation of dividends to their countries.
Foreign direct investment is a key ingredient for economic development of any nation with Zimbabwe not an exception.
The Second Republic has been pursuing a robust investment drive under the mantra “Zimbabwe is Open for Business” and the engagement and re-engagement agenda which has been a resounding success, particularly in the fields of mining and agriculture where greenfield projects are at different stages of implementation.
The move has received a massive boost after the RBZ assured potential investors of the safe repatriation of investment dividends.
The Central Bank confirmed this at the ongoing Zimbabwe- China Business Forum, reiterating that the country’s exchange control regulations are investor friendly.
“There has been a lot of misinformation among potential investors regarding the management of Zimbabwe’s exchange control regulations on repatriation of dividends hence I am here to let you know that there won’t be any impediments with respect to this subject,” noted RBZ Director Exchange Control, Mr Farai Masendu.
Meanwhile, the Minister of Foreign Affairs and International Trade Ambassador Fredrick Shava interfaced with students at China University of Foreign Affairs where he noted various economic, political and social exchange programmes that seek to solidify relations of the two countries.
“I thought I should highlight the excellent relations between Zimbabwe and the Republic of China before briefly highlighting the China-Africa relations, with a view of Building a Community with a Shared Future. The relations between the African continent and China were solidified in October 2000, with the establishment of the Forum on China-Africa Cooperation (FOCAC) framework,” he said.
Zimbabwe’s offensive on economic diplomacy around the world has been commended by analysts who are convinced that it is a key building block towards economic prosperity.