Zimbabwe’s manufacturing industry has emerged as the country’s biggest investment attraction, surpassing mining during the third quarter.
The sector received investment proposals exceeding US$1.2 billion, signalling growing interest in domestic production.
Meanwhile, the Zimbabwe Investment and Development Agency (ZIDA) approved projects worth more than US$2.6 billion.
This represented a 64 percent increase compared to the previous quarter.
The development highlights a changing investment landscape as Zimbabwe seeks to strengthen manufacturing and expand value addition.
Confederation of Zimbabwe Industries Macroeconomic Committee Chairperson Jimmy Psillos welcomed the growing interest in local production.
He said investors increasingly recognise Zimbabwe’s potential beyond its traditional extractive industries.
“What it means is that foreign investors are now seeing that Zimbabwe is not only a place for extracting but also for producing, so we need to come up with favourable investment policies to sustain the ongoing economic growth trajectory. Zimbabwe is now a country where one can invest in manufacturing; this will create more employment and linkages for growth,” he said.
Midlands leads provincial investment as China maintains top position
The investment figures also revealed differences in regional performance.
Midlands province secured the highest investment value among Zimbabwe’s provinces.
Meanwhile, China maintained its position as the largest contributor to the country’s foreign direct investment inflows.
These developments underline the importance of international partnerships in supporting Zimbabwe’s economic ambitions.
Manufacturing growth raises hopes for broader economic development
Economist Jonathan Dube described the latest investment figures as an important development for Zimbabwe.
He believes the manufacturing sector could help diversify investment and reduce reliance on mining.
Dube also pointed to increasing opportunities in industries focused on processing and adding value to local resources.
“It is a milestone because for some time we have been attracting investment from only the mining industry, but now we can see growth opportunities in the value-addition manufacturing sector. This is evidenced by several projects that have been commissioned in the country over the past five years,” he said.
Meanwhile, the Government says it is introducing measures to encourage investors to implement approved projects.
Authorities also want to strengthen Zimbabwe’s reputation as an attractive investment destination.
Successful implementation could create employment, strengthen local industries and increase economic activity.
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