The object of this Bill is to provide for the promotion, entry, protection and facilitation of investment; to provide for the establishment of the Zimbabwe Investment and Development Agency; to provide for the One Stop Investment Services Centre; to repeal the Zimbabwe Investment Authority Act [Chapter 14:30], the Special Economic Zones Act [Chapter 14:34] and the Joint Ventures Act [Chapter 22:22]; and to provide for matters incidental to or connected to the foregoing.
The complete Bill can be downloaded below.
PART I
Preliminary
Section
1. Short title.
2. Interpretation.
PART II
Zimbabwe Investment and Development Agency
3. Establishment of Zimbabwe Investment and Development Agency.
4. Functions of Agency.
5. One Stop Investment Services Centre.
6. Board of Agency.
7. Composition of ZIDA Board.
8. Functions of Board.
9. Chief Executive Officer and staff of Agency.
PART III
Investor Guarantees and Non-Discriminatory Treatment
10. Conformity to law of investments.
11. Freedom of investment.
12. Non discrimination between national and foreign investors.
13. Non discrimination among foreign investors.
14. Employment of senior expatriate staff.
15. Fair and equitable treatment.
16. Guarantee against expropriation.
17. Transparency.
18. Transfer of funds.
PART IV
Investor Obligations
19. Compliance with domestic legislation.
20. Social responsibility of the investor.
PART V
Provisions Common to Investors in and outside Special Economic Zones
21. Applications for investment licences.
22. Period of validity of investment licences.
23. Renewal of investment licences.
24. Register of investment licences.
25. Investor to notify Agency of non-implementation of investment proposals or changes in particulars.
26. Transfer of investment licences.
27. Power to visit premises and inspect documents.
28. Suspension and cancellation of investment licences.
29. Incentives.
PART VI
Investment in Special Economic Zones
30. Establishment of Special Economic Zones.
31. Considerations of applications for investment licences in Special Economic Zones.
32. Application for developer’s permits for Special Economic Zones.
PART VII
Public Private Partnerships
33. Public Private Partnerships Unit.
34. Procedures preliminary to the conclusion of PPP agreements, and conclusion
thereof.
35. Powers of ZIDA in relation to PPPs.
36. Effect and amendment of Part III of Fourth Schedule.
37. Resolution of disputes.
PART VIII
Dispute Settlement
38. Funds of Agency.
39. Financial year of Agency.
40. Accounts of Agency.
PART IX
Financial Provisions
41. Audit of accounts of Agency.
42. Reports of Board.
43. Preservation of secrecy.
PART X
General
44. Exemption from liability for Agency.
45. Regulations.
46. Amendment of Cap. 22:23 and repeal of various Acts.
47. Savings and transitional provisions.
48. Engagement by Agency or certain employees of the State and former statutory corporations.
First Schedule: Ancillary powers of Agency.
Second Schedule: Provisions Applicable to ZIDA Board.
Third Schedule: Rights, Duties and Obligations of Persons Licensed to Operate in Special Economic Zones.
Fourth Schedule: Rules and Procedures Governing Public Private Partnerships.
The complete Bill can be downloaded below.
