Is Zimbabwe open for business? The protection of property rights within the legal framework of foreign direct investments

Abstract

The institution of protection of property rights has been at its lowest ebb in Zimbabwe. With the coming into power of Emmerson Mnangagwa as the new president of Zimbabwe he declared from assumption of power that Zimbabwe was open for business. Thus, this study seeks to examine the regulatory space and the legal protection of property rights which is one of the requisites for attracting foreign direct investment. The International Property Rights Index ranks Zimbabwe as one of the countries with the least protection of property rights seating at 117 out of 125 countries according to the 2018 report. The problem that this study seeks to interrogate is whether Zimbabwe is open for business when its regulatory space in relation to protection of property rights is ranked one of the lowest and examine Zimbabwe domestic framework on the protection of property rights. The existing literature has left a gap open on the importance of protection of property rights in luring foreign direct investment and ultimately how property rights can ultimately result in economic growth due to the investor confidence that adequate protection of property rights ushers in. Consequently, it is the aims of this study to conclude by making recommendations to policy makers in Zimbabwe about how they can transform the regulatory space with regards to protection of property rights in Zimbabwe drawing lesson from jurisdictions other jurisdictions.