19 January 2018
ED and Zambia’s Lungu in ‘open talks’
African leaders wait for an apology from Trump
ED Shocker: Mugabe, 93, forgot he fired me
UK-ZIM: Mnangagwa exploits Brexit chance
MDC-T devastated by Bennet’s death
30 ZRP bosses fired, CIO spies too
Parliament: 11 G40 ministers, MPs fired
MDC-T’s Gutu scoffs at party HQ ban
SOE DEBATE: Privatise most parastatals
‘Mobile money tax will get dodger vendors’
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
Tendai Ndoro special - says Ajax coach
Zim cricket official charged with fraud
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
ZIA approves US$307m investment projects
23/09/2013 00:00:00
by Business Reporter
International lenders still wary of Zim
Low inflation signals economic shrinkage
We manufacture our own failure
Economy: Be afraid, be very afraid!
Rusting factories put Mugabe in a bind
Firms face closure as banks pounce
Revenue target missed as growth slows
Zanu PF’s economy plan, analysts unsure
Start-ups abound despite uncertainty
ZSE rallies on 'positive' govt policies
Chinamasa pledges to stick with IMF plan
Manufacturing sector in dire state: CZI
Zim seeks advice on raising money
Cabinet leaves markets, investors wary
New govt faces tough economy fight
RBZ: Panic withdrawals behind cash squeeze
No immediate Zim dollar return: Gono
Disputed poll casts shadow on economy
Foreign firms skittish as polls approach
Foreign investors seek growth in Zim
Biti slashes economic growth forecast

SOME US$307 million worth of new investment projects with the potential to create about 5,000 jobs were approved by the Zimbabwe Investment Authority (ZIA) during the first eight months of the year, the agency has revealed.

ZIA said 109 projects worth US$307.6 million were approved over the period with about 104 being joint ventures in line with the empowerment and indigenisation laws of the country.

Foreign Direct Investment (FDI) project proposals appeared to have been affected by the general scepticism surrounding the business climate ahead of and after elections.

The FDI fatigue has also been clear on the Zimbabwe Stock Exchange (ZSE), where local deals have dominated the market since last year with foreign punters appearing to adopt a wait and see attitude.

Domestic investment has however, taken a knock as a result of funding shortages to bankroll new projects and high interest rates in the banking system.

Analysts say investors in Zimbabwe were looking at investment security, political stability, respect for property rights and an environment which has an assured, high level of law and order.

In the past, several projects have been proposed in the country, but implementation of has proved one of the major problems.

Zimbabwe’s foreign direct investment in-flows in 2012 reached US$400 million representing 17,7 percent of gross fixed capital formation.

The manufacturing sector received the bulk of the investments worth US$136 million for 42 projects, followed by mining with US$119 million for 46 projects whilst construction got US$26,4 million for 3 projects.

China is still the leading investor for Zimbabwe, investing in projects worth US$180, 2 million with its interest mainly in manufacturing where it invested about US$86 million, whilst injecting US$68 million in the mining sector and US$20,2 million in construction. 

The United Kingdom had projects worth US$34 million approved mainly in manufacturing, mining and services. In Africa, South Africa is the leading investor with projects worth US$39 million.


Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it






Face Book



comments powered by Disqus
RSS NewsTicker