The Sunday Mail
Wallace Ruzvidzo
Sunday Mail Correspondent
The Zimbabwe Investment and Development Agency (ZIDA) last year licensed 128 projects worth over US$500 million from foreign investors, with mining accounting for the bulk of new ventures.
An additional 99 investment projects worth over US$1,3 billion also had their licences renewed during the same period.
In 2020, only 40 new foreign investments valued at US$687 million were licensed.
In an interview, ZIDA acting chief executive officer Mrs Duduzile Shinya said there was sustained investor interest in the mining, manufacturing and construction.
“Projects approved from other countries during the year 2021 were 227, comprising 128 new companies licensed and 99 renewals,” said Mrs Shinya.
“Total approved investment licence renewals amounted to US$1,25 billion and new projects amounted to US$564 million.
“This compared less favourably with 2020 wherein 40 new projects were licensed with an investment value of US$687 million.
“Of the 128 new licences issued, mining accounted for 35,2 percent, manufacturing 21,9 percent, services 16,4 percent, construction 9,4 percent, agriculture 7 percent, energy 2,3 percent and transport 2,3 percent.”
The bulk of investments, she said, were coming from China, India, Mauritius, South Africa, Russia, the United States of America, the United Arab Emirates, United Kingdom, Australia and Pakistan.
“The mining industry dominated sectoral interests by value, with 45 projects being licensed,” she said.
“Investment in the manufacturing and services sectors has also been improving, as investors demonstrated interest in various manufacturing projects and borehole-drilling services.
“The third sector of interest for the investors was construction, with a particular interest in infrastructure development.
“Most of the companies, which are already operational, have been lamenting the negative effects of Covid-19, inflation and exchange rate disparities on their businesses.”
ZIDA, added Mrs Shinya, was working on attracting high-value investments with a potential to transform the country.
