ZIMBABWE

(b) PROTECTION OF FOREIGN INVESTMENT

Zimbabwe welcomes foreign investment and offers immense opportunities in various sectors. The economy has been liberalized and deregulated.

The ongoing trade liberalization programme has eliminated import licensing restrictions with the exception of a very limited range of non-commercially traded goods, making foreign currency readily available through the banking system and the exchange rate now determined by the market.

Legal protection for investors is provided through:

• Zimbabwe’s constitution that guarantees the right to private property and prohibits expropriation of private property without adequate compensation.
• Various multilateral and bilateral protection agreements and treaties.
• The Zimbabwe Investment Act of 1992 and the Export Processing Zones Act of 1996 both of which provide for protection from compulsory acquisition of property of interest of a licensed investor to whom an investment licence has been issued in terms of either Act.