Zimbabwe foreign direct investments in 9 months reaches $454m

Zimbabwe has approved foreign direct investments amounting to 453.7 million U.S. dollars from January to September this year, the investment agency said. Statistics released by Zimbabwe Investment Authority (ZIA) showed that the 120 projects approved, including six sole foreign investments, have the capacity to create 6,276 jobs and generate export worth 259.1 million U.S. dollar, state media reported Saturday. The majority of the investment projects are in mining and manufacturing, followed by the services sector. Last year, ZTA approved more than 900 million U.S. dollars of investment projects, with about 72 percent from China. The authorities say despite a drop of FDI, the impact of the July 31 general elections on the economy was minimal.