adminSpeaking at a recent 19th session of the Afrexim Bank directors meeting in China, Mr Binha said Sadc countries welcomed foreign investment.
“All Sadc member-states welcome foreign investment and provide liberal FDI regime though there are variations between them with respect to the extent of liberalisation.
“Although some member-states are fully open to FDI in many sectors, they still have restrictions on foreign investment in sectors that are considered strategic and of national importance,” said Mr Binha, who is also the Association of Sadc Chambers of Commerce and Industry (ASCCI) president.
He said of the 14 transport development corridors in Africa, seven were within the Sadc region.
“With a combined population of 257 million people and Gross Domestic Product of $465 billion, the region is an invaluable investment destination. Southern Africa will play a key role in the continent’s supply chain,” he said.
He said the region presented vast investment opportunities in the key sectors of infrastructural development and services, tourism, trade and industry.
Mr Binha said natural endowments and raw materials for the manufacturing sector as well as value addition make the region a viable investment destination.
“This is complemented by the creation of the Common Market for Eastern and Southern Africa-Eastern African Community-Sadc free trade area which underpins the competitiveness of the region’s products thereby giving it a foothold to penetrate the global markets. The creation of grand free trade area with a combined population of 525 million people and an economy in excess of $1 trillion offers an expanded market for profitable investment opportunities.”
He said nine Sadc countries had created transfrontier conservation areas with 51 investment opportunities including construction and refurbishment of accommodation and conference facilities.
Major exports from the region included clothing, beef, footwear and leather products, tobacco, cotton lint, gold, asbestos, chrome, ferro-chrome, diamonds, chemicals, machinery and equipment and manufactured goods and petroleum products.
ASCCI is an independent non-profit organisation established in response to the growing need for effective participation for organised business in Sadc.
It brings Sadc national chambers of commerce and industry as well as confederations of industry from the bloc’s member-states.
Online Reporter