THE United States has expressed interest in improving the investment climate in Zimbabwe in a bid to expand economic opportunities for the nation.
In a statement yesterday, US ambassador Pamela Tremont said her country continued to support Zimbabwe and its efforts to build a more just, prosperous and healthy society.
Tremont revealed that since Zimbabwe attained independence, the US has provided US$5 billion in humanitarian, health and development assistance, including more than US$1 billion in the last three years alone.
“We have provided US$62 million in assistance in 2024 to counter the effects of the current drought in Zimbabwe. This funding will address short-term food insecurity and long-term strategies to improve agricultural practices and strengthen community resilience,” she said.
“On agriculture, US support for demining programmes has made more than 3 000 acres of land available for cultivation. Together, we are returning land to farmers that had been unsafe for communities and their livestock since Zimbabwe’s hard-fought liberation struggle.
“Broad-based economic prosperity is impossible without strong democratic institutions, good public health, and regional security. The United States supports these things because they are critical elements for Zimbabweans to chart their own future.”
Tremont said the US was interested in deepening relations with Zimbabwe to advance mutual interests.
“Our hope is to collaborate on improving the investment climate in Zimbabwe to expand economic opportunities for people and communities, forge stronger business linkages and attract investors to look closely at Zimbabwe’s educated labour force and long-term growth potential,” the US ambassador said.
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“We believe the government and people of Zimbabwe need to share their story that Zimbabwe is a good business partner that combats corruption, provides certainty in regulatory, monetary and tax policy and applies equal justice under law.
“Zimbabwe has a rich history, enormous human talent and abundant natural resources. It shows promise as a great leader in southern Africa and a vibrant participant in global conversations. Zimbabwe’s potential is limitless. We look forward to deepening our partnership to advance our mutual interests.”
The US State Department Bureau of Economic and Business Affairs in its new 2024 Zimbabwe Investment Climate report found that policy inconsistency, corruption, administrative delays and costs hinder business facilitation in Zimbabwe.
Despite the Zimbabwe Investment Development Agency issuing hundreds of licences, investment levels remain below those of some regional peers, largely due to these persistent issues.
