HARARE-- The Zimbabwe government has set up an interim committee to facilitate investments while it works on establishing the Zimbabwe Investment and Development Authority (Zida), an amalgamation of departments involved in serving investors, says President Emmerson Mnangagwa.

The interim committee was set up after the government realized that setting up Zida might take longer than anticipated, said the President Thursday, after opening a new 8.0 million US dollars corn-snack and milling plant at Davipel, a local company owned by businessman Davison Norupiri.

We are fast tracking the implementation of the Zimbabwe Investment and Development Authority as a one stop investment shop and trade facilitation centre. I am glad to advise that we have recently approved the setting up of an interim investment and trade facilitation committee that will offer speedy attention to investment issues, he added.

He said the government would continue crafting investor friendly policies as the country intensified efforts to attract foreign direct investment. He re-assured local companies that despite the emphasis on foreign direct investment (FDI), the government would not neglect local firms.

He said the expansion of Davipel was an indication that businesses could thrive in Zimbabwe, and he vowed to support distressed and closed companies. My government will continue to create an enabling business environment which allows businesses to thrive. I will maintain an open door policy for constructive discussions and also ensure the provision of fiscal incentives as well as the requisite infrastructure, he said.

He urged local companies to produce quality products which were competitive in foreign markets, while taking advantage of markets created by trade blocs such as the Common Market for East and Southern Africa (Comesa).

Let us translate the mantra Zimbabwe is open for business and embrace export-led industrialisation by positioning ourselves to take advantage of the market access available in the SADC, Comesa tripartite greements and the African Continental Free Trade Area (AfCFTA).

He also urged local firms to add value to their products.