ZIA approves 21 investment projects

A total 21 investment projects valued at $71,025 million were approved in the two months to February 2014, up from $38,6 million in January, latest figures from Zimbabwe Investment Authority have shown. According to the figures, mining attracted the bulk of the investments valued at $60,944 million with the BVI January figure of $28,729 million remaining the biggest investment so far this year.

ZIA said the $28, 7 million BVI investment came into Pan African Mining pvt ltd, a gold mining company in the Mutorashanga area which received gold mining equipment.

Manufacturing and services weighed in with five and six projects respectively while other sectors such as transport, agriculture, tourism and construction had no investment in the period.

Manufacturing attracted $5,497 million off five projects while services with six projects attracted $4,584 million.
In terms of countries, China’s investment rose to $9,893 million in February from January investment of $2,9 million. The country invested $4,3 million in mining, $3,8 million in services and $1,6 million in manufacturing.

USA, Iran and Sudan all expressed interest in mining, committing different amounts in the sector.
During the period Egypt invested $3,050 million in manufacturing, Sweden $500 000 in services and France committed $258 000 in the services sector. In the two month period 1 408 jobs were created while export earnings stood at $69,3 million.

At the close of 2013, the country total investments stood at $685,8 million down from $909 million in 2012. – FinX.

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