Mutambara to address World Economic Forum today

arthur_mutambaraHARARE - DEPUTY Prime minister Arthur Mutambara is today expected to address the World Economic Forum (WEF) on the topic Investing in Zimbabwe. Mutambaras address will be an opportunity for him to explain the countrys economic recovery plan which is contained in Short Term Emergency Recovery Programme (Sterp) and appeal investors to come to t

His address comes at a time when Zimbabwes was rebuilding after political and economic problems have turned off the tap of foreign investment, the country’s central bank has admitted.

Last year Zimbabwe attracted just US$5,4 milion of direct investment, according to the Reserve Bank of Zimbabwe.

In contrast, 1998 – the best year on record – produced investments totalling $436 million.

“Resource flows to Zimbabwe – a critical component of investment finance – have been declining over the past five years, reflecting an unfavourable domestic macro-economic climate, the Reserve Bank of Zimbabwe said.

The land seizures and, assaults on industrial plant when owned by Zimbabweans suspected to be backing the opposition by gangs armed and trained by the government have turned the economy on its head.

High inflation and uninvestors friendly law has also helped to chase investors further away.

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