sexta-feira, 7 de maio de 2010

Leaders unite to declare Zimbabwe open for business

By Andrew Walker 
Economics correspondent, BBC World Service, Dar es Salaam

All the top three figures in Zimbabwe's Government of National Unity sat together on a platform at the World Economic Forum's Africa meeting to pronounce their country open for business.


The heavyweight representation came as a bit of a surprise to the event's organisers. The printed programme had only the prime minister, Morgan Tsvangirai, appearing on behalf of Zimbabwe. But President Robert Mugabe and the deputy prime minister Arthur Mutambara decided to come along as well.
Their main message for this business oriented audience was "come and do business in Zimbabwe".
Mr Tsvangirai said to potential investors, "forget about the perceived risk in Zimbabwe. Your return on investment is much, much higher in Zimbabwe than in other countries and regions".
The country has to go through rehabilitation reconstruction, he said, telling investors, "Your participation is welcome".
Mr Mutambara called on investors to "take the plunge".
"Come to Zimbabwe for profit," he said. "If you are dubious about Zimbabwe, it's your loss".
Shared platform
President Mugabe was less ebullient. He dwelt at some length on American and European sanctions.
But perhaps the big message for foreign business was less what anyone said than the fact that all three were there together, given Zimbabwe's recent history of vicious political infighting.
The two former opposition figures could not resist some references to that ugly past.
Mr Mutambara remarked how two years ago he had gone to a World Economic Forum, from a gaol cell.
But they did manage to sit together on the platform and remain entirely civil.
Warm welcome
Their joint presence was welcomed by several speakers in the audience.
One young Zimbabwean saw huge symbolism in President Mugabe simply wanting to pass a microphone to Mr Tsvangirai.
"Five years ago, I couldn't have imagined that," he said.
The improved political stability was clearly just what this audience wanted, for the improvement it brought to the environment for business - quite apart from the other political and social benefits.
There was also a welcome for the more stable economic environment that Zimbabwe now enjoys.
Mr Mutambara said that inflation has come down from half a billion per cent to 3%. One member of the audience recalled buying a toothbrush for $10m - Zimbabwean dollars, that is.
Troublesome legacy
But one speaker, who described herself as an investor into Zimbabwe, said that what she heard about during the debate was "a Zimbabwe that is not a reality today".
She said that Zimbabwe is "not predictable enough, not stable enough".
"Capital is a coward. It doesn't go where it perceives danger," she continued.
She asked what the leaders would do to make sure Zimbabwe does not miss the opportunity to attract new investment.
At this conference, there is a sense that Africa is increasingly attractive as a place to invest, although the amounts are still small compared with other emerging regions.
But Zimbabwe's recent history is an obstacle and it is still perceived to be a political risk for investors. It will take time for Zimbabwe to bury that legacy.
BBC News