Story by Davison Vandira
THE Zimbabwe Investment and Development Agency has made significant strides in the issuance of investment licences with revelations that the agency successfully processed one hundred and three licences in the first quarter of this year.
At its inception four years ago the Zimbabwe Investment and Development Agency ZIDA was mandated with increasing both Foreign and Domestic Investments in line with the government’s mantra, “Zimbabwe is Open for Business.”
Phenomenal growth has been registered and statistics reveal that for the first quarter of 2023, ZIDA received more than 260 investment applications and successfully processed 103 which are in incubation to bring much-needed economic benefits.
According to ZIDA’s CEO, Mr Tafadzwa Chinamo investors making applications are predominantly from outside Africa leaving a gap for domestic and regional investors to balance the investment equation for sustainability.
“It is encouraging to note that our investment climate is good enough to attract investors into the country, especially in the mining industry which is capital-extensive and long-term in nature and the number of applications that we are receiving and processing is a clear testimony that we are really in the right direction in as far as promotion of investment is concerned,” he said.
Through enhanced investment, the government is targeting to create more employment opportunities and deepen the country’s macroeconomic stability that will anchor Vision 2030.