Harare Metropolitan Province has secured a projected investment of over US$260 million from 80 new investment licenses granted in the second quarter of the year.
The province continues to attract significant foreign and domestic investments, which are expected to contribute significantly to the provincial gross domestic product (GDP) and align with the country’s broader National Development Strategy one (NDS1) and upcoming NDS 2.
It emerged at the Harare Investment and Business Conference in the Capital this Wednesday that the province continues to enhance its provincial economic competitiveness through unique investment opportunities.
“Harare has many competitive advantages due to its strategic location, large market for goods and services, administrative, institutional, and financial services centre, infrastructure and transport links and highest visibility for FDI and DDI,” ZIDA’s Investment Promotion manager, Tapindwa Chipunza said.
Some of the major investment opportunities in Harare Metropolitan province were highlighted.
“Harare Metropolitan Province presents an array of investment opportunities that are ripe for exploration and exploitation.
Among the key investment opportunities is Sunway City, a designated Special Economic Zone that offers a variety of attractive investment incentives. These include duty free importation of raw materials and machinery, exemption from non-resident withholding taxes among others,” Harare Metropolitan Minister of State for Provincial Affairs and Devolution, Charles Tawengwa noted.
The province is currently contributing over 23 percent to the country’s gross domestic product (GDP) with key drivers being in the wholesale, retail and manufacturing sectors among others.
“We expect to see greater investor interest in Harare’s Special Economic Zones and public-private partnerships. We aim to increase the visibility of our bankable projects and strengthen public-private dialogue. Furthermore, we look forward to forming valuable local and international investment partnerships that will enhance our provincial economic competitiveness. The Ministry of Finance, Economic Development and Investment Promotion, has set aside part of the national budget for project development as a way to facilitate and enhance project preparation to bankability,” the Deputy Minister of Finance, Economic Development and Investment Promotion, Kudakwashe Mnangagwa said.
The two-day Harare Investment and business Conference is running under the theme: Building bridges, Accelerating Investment towards attainment of Vision 2030.
