Manicaland records increased investment inflows

By ZBC Reporter

Manicaland Province is steadily recording increased investment inflows with high impact projects having surpassed 470 million United States dollars in value this year.

Ranked lowly in terms of its Gross Domestic Product (GDP), Manicaland Province is gradually turning the corner in the wake of increased investment inflows in the timber and sawmill industry, solar power projects, mining, agriculture and infrastructure development.

Manicaland Provincial Development Coordinator, Mr Edigers Seenza told ZBC News that the positive development has seen major projects accounting for more than 470 million United States dollars.

The high impact projects have realised a total of 473 million US dollars this year. More investors are still coming and we are working with them to expand or grow our economy. We also have projects that are up and running valued at 714 million dollars. The planned projects this year are valued at 2.1 billion United States dollars. I am happy to advise that we have investors who have indicated that they have money to invest into these projects. We are also encouraging them to value add their products to grow the provincial economy,he said.

The provision of devolution funds is expected to give further impetus to provincial economic growth.

We also want to appreciate government for providing devolution funds to local authorities. We would want local authorities to continue consulting stakeholders to ensure the projects are in the interest of the people. The local authorities should create an enabling environment to grow the economies,he added.

Meanwhile, a number of companies such as Mega Market, Verify Engineering, Associated Foods Zimbabwe, Allied Timbers, Dorowa Minerals and Organic Tea Africa are retooling and expanding operations.

The Sakubva Urban Renewal Project, construction of a gemmology centre, expansion of irrigation schemes and resuscitation of industries is expected to boost the province’s economic performance.

%d bloggers like this: