
Investments to Zimbabwe, mostly foreign-funded projects, dropped by nearly a quarter year-on-year in 2013 as investors held their money to watch the southern African country's general elections and the aftermath. The government-run Zimbabwe Investment Authority on Friday said it approved projects worth 685.8 million U.S. dollars last year, compared to 909 million dollars in 2012. More than half of the investments came from China, followed by Russia and Britain. One third of the approved projects were in mining while the remaining concentrated in service and manufacturing sectors. Zimbabwe's economy has recovered from a decade-old recession but growth has significantly slowed in recent years. The government lowered the forecast growth from 5 percent to mere 3.4 percent this year. Analysts say the economic activities notably slowed in 2013 when the country held the general elections in July. Zimbabwe's veteran leader Robert Mugabe was re-elected, ending a four-year- old coalition government. But critics of the octogenarian leader say the ruling party's indigenization policy -- which requires foreign businesses with assets worth more than 500,000 dollars to cede majority stake to local partners -- might hurt investors' confidence.
GMT 14:02 2018 Sunday ,02 December
RDIF says $2 billion will be invested in Russian economy from joint Russian-Saudi fundGMT 12:03 2018 Friday ,30 November
Canada on track to sign new free trade deal with US and MexicoGMT 07:56 2018 Wednesday ,21 November
Merkel policies in focus in final debate on draft German budgetGMT 14:11 2018 Thursday ,08 November
Greek minister, Russian ambassador discuss possible investment projectsGMT 13:42 2018 Wednesday ,07 November
PM says Russian-Chinese trade turnover may reach $200 blnGMT 11:15 2018 Wednesday ,07 November
Top U.S. diplomat visits Pakistan to discuss economic cooperationGMT 13:53 2018 Thursday ,01 November
Alrosa to sell 127 large gem-quality rough diamonds at an auction in IsraelGMT 10:59 2018 Tuesday ,30 October
Trade turnover between Russia and Japan grows by over 17% in 2018Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor