adminof approved projects declined slightly from 41 to 39 during the same period last year.
Despite of the minor increase in value of projects approved, concern remains that many of them do not see the light of day, as investors remain sceptical of the economy’s future due to a volatile political environment.
The ZIA data shows that in the first quarter, all the projects that were approved were joint ventures between locals and foreigners unlike the same period last year when foreigners were in the majority.
Out of the 39 projects, 15 with a value of US$32,9 million were in the mining sector.
At least six of the approved projects were in the services sector, two in tourism and one respectively for the construction and agriculture sectors.
ZIA last year approved projects worth US$6,6 billion in 2011 up from US$520 million the previous year. — New Ziana.
Online Reporter