Harare, (New Ziana) – The drafting of the Public Private Partnerships (PPP) guidelines is nearly complete, the Zimbabwe Investment Development Agency (ZIDA) chief executive, Tafadzwa Chinhamo, has said.
PPP’s are a key driver for infrastructure development and economic growth. The Public Procurement and Disposal of Public Act came into effect on January 1, 2018.
It repealed the Procurement Act of 1 January 2018 and in 2020. In 2020, Zimbabwe enacted the Investment Development Agency Act (ZIDA Act) which also repealed the Joint Ventures Act.
“Following Cabinet’s approval of the Public Private Partnerships (PPP) Policy Framework in the second quarter, the agency embarked on drafting guidelines, which will establish regulations subject to which all PPPs in Zimbabwe will be administered,” said Chinhamo in a note accompanying the agency’s third quarter report.
“This important endeavour is 90 percent complete, and we anticipate its finalization in the fourth quarter.”
He said ZIDA sees the importance provinces play in attracting investments as reflected in their mandates at provincial government and urban and rural district council level.
To equip the provinces with the requisite skills in attracting and facilitating investments and developing bankable project proposals, ZIDA conducted workshops in Bulawayo and Harare with southern provinces attending in Bulawayo and the northern provinces in Harare.
The training is achieving its objective as ZIDA has observed considerable improvement in the quality of proposals being submitted by RDCs to the agency.
“One of the standout events during the quarter was the Inaugural SADC Investment Forum hosted by (the) agency alongside the 7th SADC Industrialisation Week. The event brought together esteemed speakers from around the globe to discuss regional industrial development, emphasizing the importance of promoting regional value chains in priority sectors across Southern Africa.”
“In total, 168 new licenses were issued in the just ended quarter, with a projected investment value of US$1 171 billion. Also pleasing is the fact that investors have fully embraced the online DIY Licensing Portal,” Chinhamo said.
The DIY portal was adopted as the sole means by which investors can apply for the ZIDA Investment Licence at the beginning of September. Mining continues to attract the largest number of investors closely followed by the energy sector.
“Looking ahead, ZIDA remains committed to attract, facilitate, establish investments for economic growth and development. We will continuously refocus our strategies on sustainable development initiatives to unlock untapped potential and create meaningful economic growth that benefits all citizens,” said Chinhamo.
New Ziana
