ZIMBABWE will, in the next week, host two investment conferences aimed at providing a platform for potential investors, business and Government to find ways to increase flow of investments in the country.
The Zimbabwe Mining Investments Conference for mining investors will be held from February 27-28 2018 while the Zimbabwe Investment Conference for global investors is set forMarch 6 2018.
The country has been experiencing very low levels of foreign direct investment (FDI) in the region relative to its peers.
Foreign investment inflows into Zimbabwe stood at US$387 million in 2011, stagnated at US$400 million in 2012 and 2013, reached an all-time high of US$545 million in 2014 before declining to US$421 million and US$319 million in 2015 and 2016 respectively.
The latest figure compares unfavourably with the country’s neighbours Mozambique, South Africa and Zambia which registered US$3 billion, US$2,3 billion and
US$469 million FDI inflows, respectively.
The Zimbabwe Mining Investments Conference 2018 will discuss as well as showcase the vast investment opportunities in Zimbabwe’s growing mining sector.
The country’s 800 mines have a capacity to earn
US$18 billion per annum, but has only been realising about US$2 billion annually since 2009.
This represents about a 10th of the sector’s full potential.
Meanwhile, the investment conference slated for March 6 will see key global investors in various economic spheres expected to share experiences and insights on how Zimbabwe can leverage on global networks to shore up FDI.
The conference, being organised by Oxlink Capital and co-ordinated by The Office of the President and Cabinet (OPC), will run under the theme ‘Zimbabwe: Towards a Preferred Investment Destination’.
The conferences come two months after President Emmerson Mnangagwa launched the national investment statement that outlines the guidelines for investing and harnessing the opportunities that abound in Zimbabwe.
President Mnangagwa launched the guidelines, titled Investment Guidelines and Opportunities in Zimbabwe, at a preparatory meeting for the World Economic Forum held last month in Davos, Switzerland.
President Mnangagwa said Zimbabwe was now open for business and was willing to restore normal relationships with the international community.
“Government has shown interest to increase investment in Zimbabwe by removing investment impediments like the amendment of the indigenisation and economic empowerment regulations.
“Willingness to finalise the land reform programme and focus on productivity of the land and launch of pro-business Investment Guidelines,” he said.
The reforms are expected to provide a conducive environment for foreigners to invest in Zimbabwe.
In addition, the recently announced 2018 Monetary Policy Statement (MPS) was couched on the ‘open for business’ narrative which places the obligation on everyone to conduct business in a manner that promotes investment in the country.
Announcing the monetary policy statement, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya said Zimbabwe has to capitalise on renewed confidence brought about by the new administration led by President Mnangagwa by going back to basics to restore business confidence and foster discipline within the national economy.
He said supportive monetary and fiscal measures were essential to walk the talk under the nation-is-open-for-business narrative.
Mangudya said the narrative ‘open for business’ meant that Zimbabwe was prepared to embrace a paradigm shift to attract investors, both local and foreign.
“It calls for a dramatic change in the conduct of business from the business-as-usual approach,” he said.
The policy came on the back of nationwide euphoria as Zimbabwe finds itself in a new dispensation.
The monetary policy follows a largely austerity-driven fiscal policy pronounced by Finance Minister Patrick Chinamasa on December 7 2017. 
“The narrative of ‘open for business’ means that Zimbabwe is ready and willing to embrace a paradigm shift to attract investors, both local and foreign, for the total transformation of the economy in respect of increased production, jobs, exports, fiscal space, access to capital and foreign finance,” said Dr Mangudya.
“Improvement in these economic variables will greatly benefit the monetary environment and, in doing so, enhancing financial stability and confidence within the national economy.
“A healthy foreign exchange buffer will strengthen the value of RTGS funds and gradually reduce cash shortages.”
Dr Mangudya said ‘open for business’ is not just a narrative as it calls for a dramatic change in the conduct of business from the business-as-usual approach.
“We need to walk the talk to re-balance the economy through a tight rein on fiscal deficit — increasing revenue collections and holding expenditures constant — while at the same time enhancing Zimbabwe’s access to foreign finance and increasing foreign inflows from exports and international remittances.
“These measures will be buttressed by accelerating arrears clearance and re-engagement programme under the Lima, Peru, principles of engagement with the international financial institutions and development partners.”
Zimbabwe Investment Authority (ZIA) anticipates approving projects valued at US$2,5 billion this year on the back of broad economic reforms being adopted by President Mnangagwa.
“Given the observed developments in the investment environment we expect approvals to increase this year and to record above US$2,5 billion in 2018,” said ZIA chief executive officer Richard Mbaiwa.
“There is much room to improve Zimbabwe’s FDI performance through co-ordinated investment promotion efforts. ZIA is ready to co-operate and participate in any efforts aimed at improving the investment climate in Zimbabwe. The overall Doing Business reforms now straddling across all arms of Government are a welcome initiative to improve the investment environment,” Mbaiwa said.