Story by Stanley James, Business Editor
ZIMBABWE’S target to become the region’s investment destination of choice is on course, amid revelations that over 200 new projects worth more than US$4 billion were approved by the Zimbabwe Investment and Development Agency (ZIDA) in the first three months of this year.
ZIDA’s first quarter report released to ZBC News this Friday shows a strong investor interest in several projects across the country.
The report notes an over 40 % rise in new investment licences issued compared to the same three months last year.
Matabeleland North Province dominated investment licences at over US$1.4 billion, followed by Mashonaland West province at more than US$800 million, Midlands Province at US$124 million and Harare at over US$110 million.
The horticulture industry is also emerging as a key area of interest by local and external investors with projects exceeding US$700 million set for approval during the course of the year riding on increased demand for locally produced commodities in the global markets.
Mining projects accounted for the highest investment values at over US$2 billion, followed by the agriculture industry where projects valued at more than US$900 million were approved by the agency.
More enquiries were into the mining sector with over 25 individuals looking for opportunities, followed by the agriculture sector accounting for over 15 investors.
ZIDA also revealed interest by the private sector to partner government in infrastructure projects, as investments under the Private-Public Partnerships worth over US$700 million were approved in the period under review.
