africa special articlesAFRICA NEWS

About Africa News

Africa News features dayly news focusing on current and relevant business and financial issues affecting Africa.

Africa News

Mugabe Advocates Foreign Investment and Addresses "Discouraging" Policies


Zimbabwe's President Robert Mugabe wants investors to know that laws that limited foreign ownership have been misinterpreted.


"Foreign direct investment is most welcomed as it brings new technology, capital and new markets," Mugabe told the foreign fund managers, financiers, investors and entrepreneurs, according to a Reuters report.

 

Those against Mugabe blame the lack of foreign investment on Mugabe's previous policies such as confiscation of white-owned farms.

 

Other discouragements are empowerment laws that limit foreign ownership to 49 percent. To this, Mugabe said, "Such policies as the indigenization and economic empowerment act should not be viewed as obstacles to investment promotion... They should be welcomed as promotive of the greater participation of our people in the economy."


read source articleread source article
Back to the front page