HARARE- ZIMBABWE'S investment levels could skyrocket to as much as 20 percent of GDP according to Minister Tapiwa Mashakada Mashakada said it was currently only five percent of Gross Domestic Product (GDP). Zimbabwe offers tremendous investment opportunities and the establishment of the One Stop Shop will increase the country’s competitiveness as a place to do business,” he said. “Our objective is to increase the country’s investment from the current rate of about five percent to at least 20 percent of GDP next five years. By so doing Zimbabwe will become a leading investment destination in the region and abroad.” Mashakada said the government aimed to create and maintain a stable macro-economic environment to attract meaningful investment by both domestic and foreign investors.
“In creasing the level of investment is crucial for Zimbabwe’s economic turn around and development, said Mashakada. He added: It is therefore important that we attract Foreign Direct Investment (FDI) to augment our domestic resources. FDI brings with it additional benefits in the form of technological advancement and employment creation.”
Investors have been crying foul saying the country takes too long to approve projects at a time when it really needs the investment.
Mashakada said it would take only five working days to approve a project. It normally took about 95 days to approve a project in Zimbabwe through the Zimbabwe Investment Centre (ZIC).
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