The Sunday News
Dumisani Nsingo Senior Business Reporter
A MINISTERIAL working committee has been tasked to formulate a turnaround strategy for the revamping of an effective and vibrant One Stop Shop (OSS) Investment Centre aimed at expediting investment deals destined to the country. Addressing Parliamentary Portfolio Committees on Industry and Commerce, Finance Economic Development and Foreign Affairs last Friday, the secretary for Macro-Economic Planning and Investment Promotion (previously Economic Planning and Investment Promotion), Dr Desire Sibanda said the OSS would ensure efficient response to proposals from any foreign investor or joint venture partnerships between the State, local and foreign investors.
In 2010 the Zimbabwe Investment Authority set another OSS Centre which was designed to be the first port of call for investors where a comprehensive set of services including licensing was to be offered to them.
Investors were meant to be facilitated so that they do not move from pillar to post visiting multifarious agencies to secure permits and licences.
However, none of this is taking place on the ground as to date, not a single investment project has been registered at OSS.
“To this effect, a technical working committee has been appointed to work on the turnaround strategy for the OSS. The committee recently finished its work and a stakeholder consultative meeting will be held at the end of September to come up with an agreed framework for running an OSS in Zimbabwe and to introduce dramatic changes towards the improvement of the country’s investment climate,” Dr Sibanda said.
He said Government has also appointed a four-member Economic Planning Advisory Team which would assist in the turnaround of ZIA, among other things.
“The new ZIA OSS will set up effective Investment Approval Committee comprising of Government departments and Ministries responsible for licensing investors to make recommendations for approval of investment applications submitted to the Authority.
The new ZIA OSS Centre would work closely with the representative of the Aftercare unit of the OSS committee, Registrar of Companies, Zimbabwe Revenue Authority, Immigration Department, Ministry of Youth Development, Indigenisation and Economic Empowerment, Ministry of Mines and Mining Development, Ministry of Local Government and Public Works, Environmental Management Agency, Reserve Bank of Zimbabwe and any other relevant agencies being invited to attend meetings if need the arises,” he said.
Dr Sibanda said the ZIA Act amendments would effectively authorise the authority to have power to visit premises and to inspect documents from investors to ensure compliance with any conditions subject to which any investment licence was issued.
“This will ensure that companies adhere to the provisions of their contracts and not end up diverting from their core business and engaging in illicit behaviour like encroaching onto the areas reserved for locals, avoiding tax, non-disclosure of accounts, among other things,” Dr Sibanda said.
The new OSS would ensure that investors are received at the country’s ports of entry and directed to the Centre which would be their first port of call. To this effect, all agencies operating at ports of entry would be properly oriented on how to treat investors coming into the country.
