Investment - PDF document

1 K now Your ZIDA 1 Zimbab
K now Your ZIDA 1 Zimbabwe Investment & Development Authority ( ZIDA ) A. ZI D A O utreach ZIDA has begun a drive to engage its stakeholders to understand their needs and then provide a service . These engagements also involve a diss emination of information in areas of cooperation, pipeline projects and , progress on E ase of D oing B usiness in Zimbabwe . In some instances, this will involve setting up committees or task forces to receive communal contributions on needs, challenges, and i d e a s on how to address these . ZI DA would like to assist Zimbabweans in realising their potential . B. F unctions of ZIDA ZIDA is a statutory agency created by an Act of Parliament in order to : - 1. Promot e , plan and implement investment promotion strategies; 2. Facilitat e entry and implementation of investment projects; 3. E stablish and regulate special economic zones; 4. P romote, appraise and recommend private - public partnerships; 5. Provide i nvestor after - care and monitoring of projects; 6. Promot e decentralisation of investment activities. 7. M ake it easier for a business to invest in the country. 8. A one - stop shop for both local and foreign investors. 9. A ssess Government investment transactions with third parties . In assess ing all investment transactions involving Government entities and third parties , it en sure s that they are done properly, and for the country’s benefit. This includes assessing all of the following: - 1. joint venture proposals, 2. mergers and acquisitions, 3. public - private partnerships 4. all general investments into the country. It ensures that a social dividend is realised through skills transfer, mechanisation and community benefits, including guaranteeing that these transactions also yield a financial be nefit to the fiscus. ZIDA work s with agencies such as ZimTrade, CZI (Confederation of Zimbabwe Industries (CZI) and Zimbabwe Tourism Authority (ZTA), the Ministry of Foreign Affairs and International Trade, many other departments, and local companies to help increase exports via bilateral relationships with other countries. C. Before ZIDA I nvestors had to deal with many agencies – includ ing the Zimbabwe Investment Authority (ZIA), the Joint Ventures Unit in the Ministry of Finance and Economic Development, the Zimbabwe Special Economic Zones Authority (ZIMSEZA) , and the Export Processing Zone Authority. T hese agencies have been brought under one roof at ZIDA. To invest in Zimbabwe, an investor needed many licences. This meant they had to go from one service department to the other ; go to Z IMRA (Zimbabwe Revenue K now Y

2 our ZIDA 2 Authority), th
our ZIDA 2 Authority), the Registrar - General, the Reserve Ba nk of Zimbabwe, the Zimbabwe Energy Regulatory Authority, local authorities, NSSA, EMA and relevant line ministries. All this red tape discouraged investors, both local and foreign. W i th ZIDA , an investor does no need to go to all these departments as a ll these s ervices will be offered under one roof of ZIDA. D. One - Stop Investment Service Centre ( OSISC ) OSISC was set up to bring together officials from ke y regulatory bodies and ministries relevant to the investment process. Furthe rmore , OSISC will assist investors in different areas to remove bottlenecks in access ing services and/or investment information . OSISC is a ZI DA unit empowered to imp rove the investment process for various stakeholders . ZI DA has in the OSISC experienced officials seconded from various Ministr ies, departments, and age ncies to support investment facilitation . These officials occupy different desks within the OSISC. The Key a ctivities within OSISC are : - 1. business promotion; 2. business facilitation; 3. benchmarking of services using regional investment promotion agencies; 4. liaison with seconding ministries and/ or agencies on availability of investment information; 5. crafting OSISC operat ing procedure s ; and 6. engag ing key stakeholders . The following desks were at OSISC by December 2020 : - i. Department of Deeds, Companies and Intellectual Property ii . Reser ve Bank of Zimbabwe (Exchange Control Authority) iii. Zimbabwe Revenue Authority (ZIMRA) 1. Department of Immigration Control 2. National Social Security Authority (NSSA) 3. Environmental Management Agency (EMA) vii. Zimbabwe Tourism Authority (ZTA) viii. Ministry of Public Service, Labour and Social Welfare 1. Ministry of Mines and Mining Development 2. Ministry of Local Government and Public Works 3. Ministry of Lands, Agriculture, Fisheries, Water and Rural Resettlement xii. Ministry of Industry and Commerce T wo more desks are e xpected to operational in 2021 with officials from : - 1. Zimbabwe Regulatory Authority (ZERA) 2. Medicines Control Authority of Zimbabwe (MCAZ). ZIDA has so far facilitat ed new investments in mining, agriculture, manufacturing, energy and other key sectors of the economy. For further information and feedback ; C ontact Tino Kambasha , ZIDA’s chie f investments and corporate affairs officer Harare – 1st Floor, ZB Life Towers Cnr Jason Moyo & Sam Nujoma. Bulawayo – 3rd Floor Fidelity Life Centre, Fife Street & 11th Avenue, Tel: +263 86 880 02639 - 42 Email: osisc@zidainvest.com. Website: www.zidainvest.com