The Zimbabwe Investment Authority (Zia) has projected investment to rise to $2.5 billion this year compared to $1.52 billion recorded in the prior year.
The Authority approved projects worth US$1,52 billion in 2017; which will create 9 902 jobs and generate export earnings amounting to $136,04 million.
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The Zimbabwe Investment Authority (ZIA) has seen an increased number of investment inquiries from foreign investors since the change in political leadership but the country still needs to undergo policy reforms for it to increase foreign capital inflows, according to its Chief Executive Officer Richard Mubaiwa.
Mubaiwa has revealed that several projects have been forwarded to the Authority and some foreign investors have called for partnerships with local investors on projects already underway but in critical need of capitalisation.
“Given the observed developments in the investment environment we expect approvals to increase this year and to record above $2.5 billion in 2018”, said Mubaiwa adding that investors are optimistic of a good business environment courtesy of the new dispensation.
President Emmerson Mnangagwa has declared that Zimbabwe is now open for business and called on investors to come to Zimbabwe.
The new political dispensation is adjusting the laws which previously stifled investment in the country.
“The new investment law shall ensure non-discrimination between domestic and foreign investors and shall accord all foreign investors and their investments treatment no less favourable than that accorded in like situations to domestic investors in relation to the establishment, expansion, operation and protection of their investments, with any specific exceptions being provided for in a negative list to be annexed as a schedule to the law.’’
“The new investment law will enforce the protection of investors in accordance with the principles elaborated above,” President Mnangagwa said.
