Online Reporter
Tuesday, May 20, 2000. — Harare — The Zimbabwe Investment Centre approved new projects worth more than $1,2 billion for January to March this year which created over 2 115 jobs. Statistics released by the ZIC marketing and re-search department showed that 50 projects valued at $1,258 billion were approved in the manufacturing, mining, agriculture, construction, tourism and commercial sectors during the period under review.
A total of eight of the 50 projects are foreign owned while the remaining 42 were joint ventures between foreign and local companies. Foreign owned ventures, which accounted for 16 percent of total investment, amounted to $431,1 million and would bring in $ 72,2 million in foreign currency while joint ventures which constituted 42 percent amounted to $827,3 million and would bring in $427,7 million.
The manufacturing sector accounted for the highest number of projects, attracting 23 projects worth $608,9 million while the commercial sector had the second highest number of projects which amounted to nine.
A further eight projects worth $60,7 million were in the tourism sector and five projects worth $174,6 million were in the mining sector.
Other sectors that included agriculture attracted three projects worth $16,8 million and two projects worth $31,8 million were in the construction industry.
The projects would be implemented by investor’s from the United States, South Africa, China, Britain, Lebanon, Germany, France and Australia among other countries.
