Home Business Japan reveals why Japanese companies are avoiding Zimbabwe

Japan reveals why Japanese companies are avoiding Zimbabwe

Japanese Investors

Japan reveals why Japanese companies are avoiding Zimbabwe. His Excellency Mr Toshiyuki Iwado, told Sunday Mail Chief Reporter, Kuda Bwititi during an interview that Zimbabwe needs to reform in a number of ways so as to attract Foreign Direct Investment.
Below are excerpts from the interview.

Bwititi: What is your assessment of the reforms being undertaken by President Mnangagwa’s administration? Have they not attracted Japanese investors?

Iwado: Zimbabwe has made a very bold decision in terms of the reforms being implementing. They are trying to tackle their fiscal and monetary policies. These two issues are fundamental in stabilising the macro-economic situation.

But I always talk to some people in Government and those outside of Government. The decision to change the currency to local currency is great, that is an independent decision of the Government. But the question is, have you really operationalised the interbank system?

Have they really managed the parallel market? There is also the question of corruption. Some of these areas need to be addressed. The Japanese companies are concerned by these things that I have raised.

The companies are worried about the availability of foreign currency. There is no repatriation of foreign currency in this country, even though they are free to bring it.

I am raising these issues because Japanese companies that seek to invest in Zimbabwe are private companies. They are not the government, so they need all the assurances first before they can invest.

Source – Pindula News

In other news – Mary Chiwenga’s reason for arrest revealed

Mary Chiwenga’s reason for arrest revealed. A memorandum that has leaked to social media says Mary misrepresented to court officials that her husband had consented to a wedding ceremony when in truth and actual fact she knew very well that her husband was bedridden and had not consented to it thereby causing the marriage registration to be processed to the prejudice of reputation of her husband.

Mary ChiwengaMary Chiwenga, the estranged wife of Vice President Constantino Chiwenga, has been arrested for causing a fraudulent marriage between herself and the former army General to be registered. The marriage officer who…continue reading.

Previous articleWinky D finally speaks on his end of year album launch gig – Video
Next articleAnother Zim Bus reportedly in a head-on collision with trucks in SA