Harare - President Robert Mugabe on Thursday appealed to
international investors to come to Zimbabwe, saying laws limiting
foreign ownership of businesses had not been understood.
'Foreign direct investment is most welcomed as it brings new
technology, capital and new markets,' Mugabe told an investment
conference in the capital Harare.
The two-day event is being attended by foreign fund managers,
financiers, investors and entrepreneurs from many countries such as
South Africa, Ukraine, Kuwait, Britain and the United States.
'Such policies as the indigenisation and economic empowerment act
should not be viewed as obstacles to investment promotion. They
should be welcomed as promotive of the greater participation of our
people in the economy,' Mugabe said.
Zimbabwe, which is experiencing its worst economic turmoil ever,
has been shunned by foreign investors who the cite unstable economic
policies of Mugabe's government. Investors have been particularly
skeptical of Harare's controversial land expropriation policy - that
has already stripped white commercial farmers of land - and which the
government said might be extended to mines and other businesses.
Mugabe's erstwhile political enemy, now Prime Minister Morgan
Tsvangirai since the formation of a unity government in February,
also attended the conference.
Mugabe said Zimbabwe's former colonial power Britain had the
responsibility to compensate owners of land that has been seized for
redistribution.
In reply to a question from Trevor Gifford, chairman the country's
predominantly-white Commercial Farmers Union (CFU) Mugabe said: 'The
responsibility of compensation rests on the shoulders of the British
government and its allies,' he said.
'We pay compensation for developments and improvements. That's our
obligation and we have honoured that. Above all Zimbabwe upholds the
sanctity of property rights. Sure there must be some compensation.
Let's join hands and appeal to the British.'
He added: 'The farmers have let themselves down. They have tended
to side with the British.'
Gofford had asked when Harare would compensate farmers who lost
their land to government under the controversial land reform
programme.
Tsvangirai, meanwhile, said Harare would compensate farmers if
the financial position of the troubled government improves.
Mugabe said that since February, conditions in Zimbabwe favoured
investment.
'The formation of the inclusive government has strengthened
our stable political environment, making us more conducive to
investment promotion.
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