Business / Economy
Mining sector has potential to boost foreign investment
29 Aug 2012 at 04:48hrs | Views
The mining sector has potential to increase capital inflows into the country as shown by interest from many foreign investors.
The mining industry dominated investment inflows in the first half of the year during which 40 new projects worth US$190 million were approved by the Zimbabwe Investment Authority (ZIA).
ZIA chief executive officer Richard Mubaiwa told the New Ziana that investor confidence in the country, particularly in the mining sector, had improved.
"Projects approved in the first half of 2012 involved new players from different countries. This really shows how investor confidence in Zimbabwe has been changing," he said.
Mubaiwa said mining would bring the much needed foreign investments to help improve the country's economy with job creations and infrastructure developments.
Some of the countries which have expressed interest in Zimbabwe's mining sector include China, Italy, Mauritius, South Africa and Australia.
The mining industry dominated investment inflows in the first half of the year during which 40 new projects worth US$190 million were approved by the Zimbabwe Investment Authority (ZIA).
ZIA chief executive officer Richard Mubaiwa told the New Ziana that investor confidence in the country, particularly in the mining sector, had improved.
"Projects approved in the first half of 2012 involved new players from different countries. This really shows how investor confidence in Zimbabwe has been changing," he said.
Mubaiwa said mining would bring the much needed foreign investments to help improve the country's economy with job creations and infrastructure developments.
Some of the countries which have expressed interest in Zimbabwe's mining sector include China, Italy, Mauritius, South Africa and Australia.
Source - New Ziana
