News / National
Zimbabwe's ZIDA attracts US$1,8bn investment
03 Aug 2024 at 16:49hrs | Views
Zimbabwe attracted investments totaling US$1.8 billion in the second quarter of the year, with US$745 million in the manufacturing sector and US$282.7 million in mining. The Zimbabwe Investment and Development Agency (ZIDA) issued 154 licenses to investors. This surge in investments reflects the confidence inspired by the Second Republic's policies under President Mnangagwa.
Manufacturing had the highest projected investment value, while mining saw the most licensed projects. ZIDA CEO Tafadzwa Chinamo highlighted the country’s growing reputation as an investment destination and the significant progress in public-private partnerships (PPPs). The Cabinet-approved policy framework on PPPs is set to guide private sector involvement in economic development, with feasibility studies for major projects like the Thuli-Moswa Dam and the Harare-Nyamapanda Road already approved.
Mashonaland West led with the highest projected investment value of US$728.6 million, followed by Midlands with US$598.6 million. Other regions also saw substantial investments. There was an 8 percent increase in the number of licenses issued compared to the first quarter, though timely license renewals saw a decline.
ZIDA is implementing measures to simplify investment processes and address investor concerns, including the introduction of an investor grievance response mechanism and an investor handbook. The agency is also enhancing PPP structuring and management and conducting investment sentiment analysis to guide future strategies.
Overall, ZIDA remains committed to facilitating impactful investments and positioning Zimbabwe as a dynamic investment hub in the region.
Manufacturing had the highest projected investment value, while mining saw the most licensed projects. ZIDA CEO Tafadzwa Chinamo highlighted the country’s growing reputation as an investment destination and the significant progress in public-private partnerships (PPPs). The Cabinet-approved policy framework on PPPs is set to guide private sector involvement in economic development, with feasibility studies for major projects like the Thuli-Moswa Dam and the Harare-Nyamapanda Road already approved.
Mashonaland West led with the highest projected investment value of US$728.6 million, followed by Midlands with US$598.6 million. Other regions also saw substantial investments. There was an 8 percent increase in the number of licenses issued compared to the first quarter, though timely license renewals saw a decline.
ZIDA is implementing measures to simplify investment processes and address investor concerns, including the introduction of an investor grievance response mechanism and an investor handbook. The agency is also enhancing PPP structuring and management and conducting investment sentiment analysis to guide future strategies.
Overall, ZIDA remains committed to facilitating impactful investments and positioning Zimbabwe as a dynamic investment hub in the region.
Source - The Herald
