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German envoy urges Zim to deal with investment policy inconsistencies

Thorsten-Hutter-1
HARARE  –  German Ambassador to Zimbabwe, Dr  Thorsten Hutter yesterday said Government should address policy  inconsistencies for it to attract new investment.

Appearing before the Parliamentary Portfolio Committee on Foreign  Affairs, Dr Hutter said German companies are keen to invest in Zimbabwe  but policy inconsistencies were a hindrance.

“Zimbabwe is in a competitive situation with its neighbors; there are  things which you have which are to your advantage but there are things  which are seen as not good like a simple issue of police roadblocks and  the ease of doing business.

“We believe that business and investment is possible but we need to  address the challenges that exist for German companies to come here,” he  said.

He added: “We need to focus on how to bring more companies so that  employment is created. We need to increase trade by looking at possible  trade areas which means Zimbabwe products can enter Germany without any  hindrances.”

Dr Hutter debunked the notion that Germany was not releasing lines of credit  to Harare because of its dislike of the current Government.

“… Government has to pay its arrears to (the) World Bank and Paris  Club; once that is addressed, KfW (Germany owned development bank) will  be able to come to Zimbabwe to give you money.

“It is not true that we are not lending money to Zimbabwe because of  the political situation; it is not true. It is because of the arrears  and those are areas which investors also look at,” he said.

Germany, a member of the European Union, froze economic relations with  Zimbabwe over a decade ago when the bloc imposed sanctions on Harare.

Government is in the process of improving the ease of doing business

Source :

bh24

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