Zim targets diaspora community
BUSINESS REPORTER
Government plans to issue a diaspora bond to be listed on the Victoria Falls Exchange among a raft of measures to harness dividends from its nationals living abroad.
The measures, to be incorporated in the diaspora-friendly environment policy framework will assist Zimbabwe to harness social, economic, political and cultural dividends which would help spur development, acting Information Jenfan Muswere said at a post Cabinet briefing yesterday.
The bond will be listed by the Ministry of Finance and Economic Development once finalised and a One-Stop-Service-Centre for Diaspora investment applications will be established at the Zimbabwe Investment Development Agency to expedite the processing of the proposals.
The move to target Zimbabweans living abroad comes as diaspora remittances have helped sustained the economy with over US$1.4bn received last year.
“The development of a comprehensive policy and strategies will unlock knowledge and skills transfer; diaspora direct investment; and philanthropic works.
“Government, on the other hand, will avail industrial shells and land to eligible diasporas for the construction of specialist hospitals and industrial parks and any other areas or sectors,” Muswere said.
Government will also facilitate the establishment of joint ventures between diasporas and landowners for the production and export of high quality agricultural products and any other sector for investment.
Zimbabwe has set up an Inter-Ministerial Committee chaired by the Foreign Affairs and International Trade minister Frederick Shava (pictured above) and deputised by Finance and Economic Development minister Mthuli Ncube.
The committee is mandated to review the National Diaspora Policy as well as develop robust strategies and interventions for diaspora engagement and re-engagement.
Muswere said the Cabinet Committee will have sector- specific Sub-Committees which will be mandated to deal with issues pertaining to any sector of the economy.
There are also plans to strengthen Zimbabwe’s Consular Services abroad in order to issue Civil Registration documents, Visas and Work Permits.
