Investment and Development Agency Act (Chapter 14;37)

The Zimbabwe Investment and Development Agency Act (Chapter 14;37) which was gazetted on 7 February 2020 aims to promote and facilitate investment in the country. The Act establishes a One Stop Investment Services Centre (OSISC). It provides for non-discrimination between foreign and domestic investors save for reserved areas. Similarly, is accords foreign investors from different countries equal treatment save for resolution of investment disputes provided for in international investment treaties and trade agreements. It provides for fair and equitable treatment of investors. It provides guarantees against expropriation of investments, including indirect expropriations. Further, the law provides for the rights of investors to freely transfer funds without restriction or delay in a freely convertible currency into and out of Zimbabwe. Finally, the Act provides for the establishment of special economic zones, which shall be published in the Government Gazette.

• Type:

  • Treatment and operation (Nationalizations and expropriations, Capital transfer and FOREX, Dispute settlement)
  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • LexAfrica, Boon for investors as Zimbabwe enacts new investment promotion law, https://www.lexafrica.com/2020/02/boon-for-investors-as-zimbabwe-enacts-new-investment-promotion-law/, 25 Feb 2020