Infrastructure development key to attract FDI

The upgrading of infrastructure in Zimbabwe is being made when the new administration has so far attracted foreign direct investments (FDI) worth more than $16 billion.

According to local business people and experts, the process will even broaden the scope of business in the country thereby creating new employment opportunities in key productive sectors.

It is the aim of any investor to firstly consider infrastructure in a given area before injecting funds for a project.

With the government focusing on the development of roads, bridges, water, dams, electricity, airports and railways; mobilisation of resources is important, said Real Estate Institute of Zimbabwe president Mr Mike Juru.

“It is important to take note of the current developments of infrastructure, however, we also need to explore more opportunities on that aspect,” he said.

While Treasury has already devoted more than $300 million in the upgrading of infrastructure, the private sector should also complement such effort, said National Railways of Zimbabwe board chairman Mr Larry Mavhima.

“The attraction of viable or strategic investments becomes critical as we focus on the need to attract capital that can unlock more growth opportunities,” he said.

A local businessman Mr Kamal Khalfan said the renewed investor confidence on Zimbabwe requires a concerted stakeholder approach in dealing with infrastructure challenges.

“The nation had seen stalled infrastructure developments and this really was not good for the entire nation so we anticipate for the better in the near future,” said Mr Khalfan.

While efforts are being made to ensure Zimbabwe regains lost market share within the investment arena, it is the commitment by stakeholders to refurbish infrastructure that will facilitate economic growth rates of at least six percent per year.

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