Online Reporter
Edgar Vhera
Specialist Writer – Agribusiness
The Government on Monday presented to Danish investors its policies aimed at promoting private sector investment across the country’s agricultural value chains, as it targets US$1,42 billion in fresh investments.
The initiative seeks to secure a surplus of one million tonnes of maize by 2030.
Lands, Agriculture, Fisheries, Water and Rural Development Deputy Minister, Vangelis Haritatos, delivered the presentation in Harare at an engagement between Government officials and a high-level Danish business delegation.
The delegation is in the country to explore investment opportunities in food systems, agriculture and clean energy sectors.
The policies include the Productive Social Investment Model, the National Enhancement of Agriculture Productivity Scheme (NEAPS), the Village Business Units (VBUs), the Irrigation Development Alliance Model, Mechanisation Alliance Model, the Vision 2030
Accelerator Model, the ARDA Vision Incubator Accelerator Model, the Infrastructure 6.0 Model, the Agriculture Machinery and Equipment Leasing Model, the Private Sector Investment Model and the Hub and Spoke Model.
“The country prioritised increased agricultural production and productivity, building resilient food systems, improved food and nutrition security, increased agriculture exports, import substitution and job opportunities for youth.
“A total investment of US$1,42 billion is required in maize, soyabean, sunflower, blueberry, broiler, egg, beef and dairy value chain,” said Deputy Minister Haritatos.
The investment across the value agricultural chains is required for working capital, farm equipment and irrigation. Maize, soyabean and broiler value chains require about US$1 billion of the total targeted investment.
“Government has put in place investment incentives; rebate of duty for capital equipment import, security of tenure, foreigners allowed to own up to 100 percent of their investment and machinery and equipment allowable as part of equity investment into brown field projects.
“Investors are exempted from income tax for the first five years of operation in Special Economic Zones (SEZ), Build Own Operate and Transfer (BOOT) and Built Operate and Transfer (BOT) and 15 percent thereafter,” he said.
