HARARE, Feb. 22 (Xinhua) -- Zimbabwe's investment promotion agency launched the country's first-ever digital Do-It-Yourself (DIY) investment licensing system Thursday, aimed at facilitating investment in the country.
The DIY portal embodies Zimbabwe's commitment to fostering a conducive environment for local and international investors and promoting the ease of doing business, said Tafadzwa Chinamo, the chief executive officer of the Zimbabwe Investment and Development Agency (ZIDA), at the launch of the licensing e-portal.
"The launch of this portal embodies our broader vision for a modern, digitally empowered Zimbabwe. It sends a clear message to the international community that we are open for business, eager to embrace innovation, and committed to creating an environment conducive to entrepreneurship and investment," Chinamo said.
He said the new portal is a self-service platform that is corruption-free, efficient and fast, as it cuts the process of license application to approval from the previous seven working days to between two to five working days.
Potential investors can make their applications online from anywhere in the world and still be able to get their digital licenses without setting foot in the country, Chinamo said.
According to Never Nyemudzo, the chief facilitator of ZIDA's digital transformation drive, the automated system will in the future be integrated with the electronic systems of other key government ministries and departments, such as tax and immigration agencies, to ensure all interested players have a common global view of potential investors.
Speaking at the same occasion, ZIDA Chairman Busisa Moyo said the portal represents a pivotal shift towards modernization and efficiency and positions Zimbabwe as a competitive player on the global investment landscape, adding that the portal creates a faster and much easier route for an investor in any part of the world to access Zimbabwe's abundant investment opportunities.
"By simplifying procedures, reducing red tape, and providing greater transparency, we are sending a clear message to investors: Zimbabwe is open for business, and their investments are welcome and protected," Moyo said, adding that ZIDA's transition from manual licensing systems to digital platforms enhances efficiency and ensures accuracy, security, and accessibility.
Chief Secretary to President Emmerson Mnangagwa and the Cabinet Martin Rushwaya said the Zimbabwean government has over the years undertaken decisive steps to streamline regulatory processes, dismantle bureaucratic hurdles, and fortify investor protection mechanisms to achieve economic transformation.
"The digitalization of ZIDA is one of the many steps the government is taking to achieve this vision (economic transformation). We aim to establish a transparent and predictable regulatory framework that fosters investor confidence and catalyzes long-term investment in Zimbabwe," Rushwaya said. ■
