Tourism players in Zimbabwe are upbeat about increased investment inflows in the tourism sector following the promulgation by the Zimbabwe Development Agency Act of a one-stop-shop investment centre, the Zimbabwe Development Agency (ZIDA).
ZIDA will simplify the process of registering new businesses in the country. The entities operating from the one-stop centre will include the Zimbabwe Revenue Authority, the Environmental Management Agency, the Reserve Bank of Zimbabwe, the National Social Security Authority, the Zimbabwe Energy Regulatory Authority, the Zimbabwe Tourism Authority, the State Enterprises Restructuring Agency and specialised investment units and other relevant line ministries.
Tourism Business Council of Zimbabwe President, Winnie Muchanyuka, said the greatest frustration in starting a business was getting the necessary approvals, registrations and licences. “It’s is our hope that we can eliminate bottlenecks and get the requisite paperwork for initiation of businesses in the shortest possible time.”
Hospitality Association of Zimbabwe President, Clive Chinwada, said: “What's crucial at the moment is the appointment of a board and for it to perform and be as efficient as is the case in other countries such as Rwanda and Mauritius, where it is easy to set up companies and bring capital.”
He added that there was a need to ensure that investors could easily repatriate profits.
Tour operator, Langton Masunda, said a one-stop investment shop also curbed corruption and guaranteed confidentiality of business ventures or proposals.
Areas that still required investment in Zimbabwe included accommodation and activities, he added.