https://www.veritaszim.net/node/5337

Nov. 8, 2021

Cabinet approved the setting up of the Companies and Intellectual Property Office of Zimbabwe which seeks to restructure and create a fully constituted Companies and Intellectual Property Office, devoted to dealing with companies and intellectual property matters. This will go a long way in improving the ease of doing business in Zimbabwe. Cabinet also considered and approved the proposed transfer of the Office of the Master of the High Court. In coming up with the decision, Cabinet noted that Section 3 of the Administration of Estates Act (Chapter 6:01) which created the Office of the Master of the High Court clearly states that the office forms part of the Public Service. On the other hand, in performing its functions of supervising insolvent estates, which activities involve administration of liquidation of companies, judicial management, corporate rescue and sequestration of estates of individuals, the Master’s Office does not perform those functions as a court but rather as an administrative board reposed with authority to supervise the winding up of insolvent estates as provided for by the Insolvency Act.

Investment Projects

Cabinet considered and approved the following four (4) Investment Projects 1. Proposed Partnership between Bulawayo City Council and Tendy Three (Pvt.) Ltd. on the Bulawayo Vehicle Parking Management System Project; 2. Proposed Partnership between National Oil Company of Zimbabwe and COVEN Energy Ltd. to develop a Second Petroleum Products Pipeline and establish Harare as a Regional Hub for Refined Petroleum Fuel Supplies to the Land-locked SADC States; 3. Proposal for Investment by a Belarusian Independent Power Producer in a 100 MW Solar Energy Plant. 4. Proposed Partnership involving ZMDC, SIM SEA Pvt Ltd and Honghua International for the resuscitation of Angwa Shaft and the processing of the dump at Chidzikwe.

Approval of Investment Projects

Cabinet considered and approved the following four (4) Investment Projects 1. Proposed Partnership between Bulawayo City Council and Tendy Three (Pvt.) Ltd. on the Bulawayo Vehicle Parking Management System Project; 2. Proposed Partnership between National Oil Company of Zimbabwe and COVEN Energy Ltd. to develop a Second Petroleum Products Pipeline and establish Harare as a Regional Hub for Refined Petroleum Fuel Supplies to the Land-locked SADC States; 3. Proposal for Investment by a Belarusian Independent Power Producer in a 100 MW Solar Energy Plant. 4. Proposed Partnership involving ZMDC, SIM SEA Pvt Ltd and Honghua International for the resuscitation of Angwa Shaft and the processing of the dump at Chidzikwe.

Removal of State cannabis ownership rules to bring investors

Government abolished a rule which requires co-ownership between government and private investors in the cultivation of cannabis for medicinal use.

Approval of the Zimbabwe Investment Guide

Cabinet considered and approved the Zimbabwe Investment Guide as presented by the Minister of Finance and Economic Development. The Guide is a facilitative tool to the implementation of the new National Investment Policy in the wake of the promulgation of the Zimbabwe Investment and Development Agency (ZIDA) Act. It outlines, inter-alia, the country’s investment opportunities, the tax system and investment incentives. Government will periodically review the Investment Guide to ensure that investors remain current with regard to Zimbabwe’s investment requirements and incentives.

Improvement of Ease of Doing Business Ranking

Zimbabwe has improved its Ease of Doing Business rankings by 15 places for 2020, driven by good performances on starting a business, streamlining approvals for construction permits and a reduction of the business licensing fee by Harare Municipality.

Zimbabwe Investment and Development Agency (ZIDA) Bill to improve Ease of Doing Business

The gazetted Zimbabwe Investment and Development Agency (ZIDA) Bill will among other things, seek to curb environmental degradation by big investment projects. The Bill is aimed at improving reforms on ease of doing business as well as to attract the much-needed foreign direct investment into the country. Legal think-tank Veritas said the Bill seeks to establish the management and finances of the new ZIDA and its one-stop investment services centre, which will guarantee non-discriminatory treatment to investors, investor obligations, including social responsibility. 

Doing Business 2020: Comparing Business Regulation in 190 Economies: World Bank Group