Zimbabwe Vice President Hon. J.T.R. Mujuru presenting a cheque to Never Maroka on achieving Extension Worker of the Year award sponsored by Pannar Seed Company.
Originally uploaded by Pan-African News Wire File Photos
By Takunda Maodza and Sydney Kawadza
More than 400 people, including delegates from several Western countries, yesterday attended the official opening of the Zimbabwe International Investment Conference in Harare as the country continues with its drive to engage the international community in its economic turnaround programme.
Officially opening the event, President Mugabe said the Zimbabwe International Investment Conference was one of Government’s strategies to attract potential investors "with a view to stimulating investment into the country".
"Such investment is most welcome, especially when it is tailor-made to work in co-operation with indigenous entrepreneurs. All this is possible under our investment law," he said.
President Mugabe said the conference should project Zimbabwe as a conducive investment destination in sub-Saharan Africa and entice investment in order to increase output and employment to sustain economic growth and reduce poverty.
The conference, President Mugabe added, should articulate Zimbabwe’s investment policies and foster exchange of experiences on how to handle investment promotion.
He said the event was a platform to invite Zimbabweans in the Diaspora to invest in their motherland.
President Mugabe said the conference should seek to fully explain the country’s investment policies to counter misinformation over certain aspects, especially those relating to indigenisation.
"Such policies as the Indigenisation and Economic Empowerment Act should not be viewed as obstacles to investment promotion.
"Rather, they should be welcomed as promotive of the greater participation of our people in the economy, indeed, as the democratisation of our economic activity that builds up to good business returns for the investor."
President Mugabe said Zimbabwe upholds the sanctity of property rights, adding that the formation of the inclusive Government had strengthened "our stable political environment making us more conducive to promoting the rule of law in all facets".
He invited all interested parties to sample the country’s investment opportunities.
Western investors attending the conference came from countries like the United Kingdom, Germany and other European countries.
Turning to land reforms, President Mugabe said Britain was obliged to compensate commercial farmers whose farms were acquired for resettlement purposes and urged white farmers to join the Government in appealing to the former coloniser to fulfil its side of the bargain.
Prime Minister Morgan Tsvangirai concurred with the President, saying Government would only provide compensation for improvements made on the farms.
"The President is correct. The Constitution is clear. We pay compensation for improvements. If funds are available we will pay," said PM Tsvangirai.
President Mugabe and PM Tsvangirai were responding to a question from the Commercial Farmers’ Union on when Government would compensate farmers whose farms were gazetted for the settlement of landless people.
"The responsibility to compensate farmers rests on the shoulders of the British government and its allies. We pay compensation for improvements. That is our obligation and we have honoured that," President Mugabe said.
He explained how the land issue was central to the liberation struggle.
President Mugabe narrated how (former British prime minister) Mr Tony Blair’s Labour administration refused to honour an agreement entered between the Government and the Conservative Party, forcing Harare to compulsorily acquire land in 2000.
"After two years of the Labour Party being in power, they wrote to us to say the Labour government cannot entertain the issue of aid towards land resettlement.
"It will only entertain requests towards poverty alleviation programmes. They said do not talk to us about colonial responsibilities.
"We said no, surely there was an agreement between us and Conservative government. We said (Mr) Blair please, but he said no," President Mugabe said.
It was at that point that Government resolved to compulsorily acquire farms and gave them to the people of Zimbabwe, he noted.
President Mugabe said the Constitution was clear on who was supposed to compensate the farmers.
"The Constitution says the responsibility to pay compensation is that of the British government. It is a British responsibility. The farmers let themselves down. Instead of supporting us, they have taken sides with the British. Join hands with us in appealing to Britain to make funds available because they have an agreement with us," he said.
He urged farmers whose farms were gazetted to cede them to the legal beneficiaries.
PM Tsvangirai told delegates the land question was topical during his recent six-nation tour of Europe and highlighted the need to finalise disputes surrounding land allocations and to
focus on production.
PM Tsvangirai also stressed the need to depoliticise the land issue.
Speaking at the conclusion of the first day, Economic Planning and Investment Promotion Minister Elton Mangoma expressed satisfaction with the attendance, commitment and participation of delegates at the conference.
"There are more than 400 delegates who are here today and some of them have come from such countries as the United Kingdom, Germany, South Africa and, in fact, many European countries are represented here.
"It is also important to note the presence of the three principals who exposed themselves to the discussions being undertaken at the conference," he said.
Minister Mangoma said the conference sought to put the country in better stead to attract investors and to show them that the country was moving forward.
"The conference also offers us an opportunity to show the world that investors should be able to get the real value of investment in the country were both parties would benefit from such arrangements."
He, however, added that there should also be the realisation of the need to involve Zimbabweans from various sectors of the community so that there was sustainable development in the country.
The conference continues today with presentations from Finance Minister Tendai Biti on the current fiscal and monetary policies.
Mines and Mining Development Minister Obert Mpofu, Agriculture, Mechanisation and Irrigation Development Minister Joseph Made, Industry and Commerce Minister Welshman Ncube and Tourism and Hospitality Industry Minister Walter Mzembi are among the top Government officials who will address the conference today.
The conference is being held under the theme "Zimbabwe: Redefining Business and Investment Environment".
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