Online Reporter
Tapiwanashe Mangwiro
Senior Business Reporter
ZIMBABWE has extended its priorities beyond simply attracting investment to converting licensed projects into funded, operational and sustainable businesses, the Zimbabwe Investment and Development Agency (ZIDA) says.
Chief executive officer Mr Tafadzwa Chinamo said Zimbabwe was generating strong investor interest, particularly in manufacturing, but warned that the value of projects in the investment pipeline should not be confused with capital already deployed into the economy.
Addressing delegates at the 6th ZimReal Property Investment Forum earlier today, Mr Chinamo said the next phase of Zimbabwe’s investment strategy requires stronger collaboration between the Government, investors, financiers, development institutions and professional service providers to ensure projects move from licensing to implementation.
“Zimbabwe continues to generate investment interest,” he said.
“However, these figures also sharpen an important distinction. The projected investments represent potential contained within the investment pipeline. It is not the same as capital already deployed.”
His remarks come as the Southern African country is looking to deepen industrialisation, increase productive capacity and attract capital into sectors capable of generating jobs, exports and stronger domestic value chains.
Mr Chinamo said investment in manufacturing was particularly important because it can support value addition, beneficiation, import substitution and export growth.
He said ZIDA’s role is increasingly evolving from simply promoting Zimbabwe as an investment destination towards ensuring that projects already attracted were successfully implemented.
“Our priority, therefore, increasingly is to convert this growing pipeline into actual investment,” Mr Chinamo said.
“This means understanding where licensed projects are within the implementation cycle, identifying the constraints delaying capital deployment and working with investors, Government institutions, financial institutions and development partners to address these problems.”
According to Mr Chinamo, the central question for Zimbabwe is no longer simply how to attract more investors.
“The question, therefore, is no longer simply how do we attract more investment? Increasingly, it is how do we convert the investments we attract into funded, operational and sustainable projects?” he said.
“This represents ZIDA’s deliberate progression from investment promotion towards investment conversion.”
