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Zimbabwe’s drive to attract investment has moved a gear up with Cabinet approving for implementation 11 investment projects worth $5,3 billion. Briefing the media after a Cabinet meeting on Tuesday, Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa said works on the projects which cut cross various economic sectors should begin immediately.

Minister Mutsvangwa said the projects were approved for immediate implementation after processing by the One- Stop Investment Service Centre. The approved projects include fertilizer manufacturing, iron and steel manufacturing, livestock farming, ferrochrome production, diamond processing, infrastructure and housing development bank and medical and industrial gases manufacturing among others.

On Monday Karo Resources announced that it will soon kick off activities on its $4,2 billion platinum investment project in Mhondoro-Ngezi. The mining giant made the announcement while introducing to President Emmerson Mnangagwa their financiers Africa Finance Corporation (AFC) who said they were ready to inject $2 billion into the platinum mining project.

The project, to be implemented in phases, is set to create at least 90 000 jobs for locals. The latest developments confirm Government’s commitment to turning the country into an upper middle-income economy with a per capita gross domestic product (GDP) of $3 500 and decent jobs for citizens by 2030. Government has since rolled out plans for restructuring of State-owned Enterprises (SOEs).

The restructuring is meant to turn SOEs into profitable firms to avoid reliance on Government handouts for survival. President Mnangagwa has on many forums urged Zimbabweans to put the harmonised elections behind and focus on nation building and reviving the economy. “The task facing us is a great one. Let us unite as Zimbabweans, revive our economy and build our great nation,” said Cde Mnangagwa soon after the elections.

He said every Zimbabwean should play his or her part as the nation works towards modernising and industrialising the economy in line with the national vision to become a middle income economy by 2030.

The revival of the economy has gathered momentum as evidenced by the approval for implementation of the 11 investment projects worth $5,3 billion.

Work on a number of mega projects has also started and there is therefore no reason to doubt that the country is headed for good times.

We want at this juncture to implore Zimbabweans to take heed of President Mnangagwa’s warning that the country will undergo a “painful” reform process to achieve transformation and modernisation of the economy.