The Zimbabwe Investment and Development Agency (ZIDA) has launched an investor confidence survey confidence to capture the views of investors on Zimbabwe’s policy and regulatory framework to attract foreign direct investment, it emerged Tuesday.
World Bank’s private sector arm, the International Finance Corporation (IFC) will provide technical assistance to help ZIDA administer the survey.
The survey seeks to capture the quality and scope of services offered to investors by ZIDA and related government agencies, as well as any specific challenges that constrain investment. ZIDA plans to use the survey findings to inform policy dialogue around improving Zimbabwe’s ability to attract and retain investment.
“This survey will deepen Zimbabwe’s efforts to change the narrative around the country as an investment destination,” said Douglas Munatsi, ZIDA chief executive officer.
The survey will be followed by a planned multi-year advisory support program with ZIDA to identify and support policy, institutional, legal and regulatory reforms to help attract FDI.
“First-hand information from current and potential investors about the business and investment environment in Zimbabwe is the best tool to unlock opportunities for private sector growth. IFC is ready to support ZIDA in this very timely endeavour,” said Adamou Labara, IFC’s Country Manager for Eswatini, Lesotho, Namibia, South Africa and Zimbabwe.
ZIDA was launched last year and is a creation of the Zimbabwe Investment and Development Agency Act to promote, facilitate, and protect investments in Zimbabwe.
This support is intended to enhance ZIDA’s capacity to advocate a policy and regulatory framework that improves Zimbabwe’s ability to attract and retain investment, according to World Bank country manager for Zimbabwe Mukami Kariuki.
“Although the WBG and IFC are unable to develop lending operations or provide financing respectively to the public and private sector, there is a commitment across the World Bank Group to support development outcomes by providing technical assistance and advice,” Kariuki said.