1998 SOUTHERN AFRICA ECONOMIC ... - National Treasury

Z I M BA BW E
- No restrictions on local borrowing for working cap i t a l .
- P u rchase of shares by fo reign inve s t o res on the ZSE is limited
to 40 percent of total equity with a single investor acquiring a
m a x i mum of 10 percent of the share s ;
- Dividend and profits remittance for all fo reign investors is
n ow 100 percent and payment is effected through the inter
bank marke t ;
- I nvestment inflows and capital transfers are eligible for 100
p e rcent deposits into Fo reign Currency A c c o u n t s ;
- Fo reign investors may hold up to 100 percent equity in
companies operating in pre fe rred sectors of the economy ;
- Fo reign investors may hold up to 35 percent equity in
companies which are re s e rved for domestic investors as
specified in Statutory Instrument 108 of 1994 (e. g .
t r a n s p o rt a t i o n ,retail/wholesale trade estate agencies,
e m p l oyment agencies and some agriculture and fo re s t ry ) ;
- In construction and specialised serv i c e s ,fo reign investors may
hold up to 70 percent equity.
Legal Protection of Inve s t m e n t
Z i m b a b we, being a signatory to several bilateral and mu l t i l a t e r a l
p rotection agre e m e n t s ,guarantees security of investment and
p ro p e rty rights of investors thro u g h : UN Commission on
International Trade and Arbitration Law (UNCITRAL), OPIC -
U S A , M I G A , ICSID - World Bank, N ew York Convention on
Recognition and Enfo rcement of Fo reign Arbitral Aw a rd s ,a n d
bilateral investment protection agreements signed with
M o z a m b i q u e, the UK, G e r m a ny, M a l ay s i a ,Po rt u g a l ,S w i t z e r l a n d
and China.
I N V E S TM E N T
O P P O R T U N I T I E S A N D
P R O J E C T S
Main sectors of interest to investors are manufacturing and
a g ro - i n d u s t ry, m i n i n g ,tourism and agriculture.
P RO J E C T S
H o rt i c u l t u re and A g ro-Based Industries
P roduction of 2.3 million stems of roses such as the red ve l ve t ,white noblesse and first re d 0 . 5 7
M a nufacturing of 1.0 million litres of sunflower oil, 27 million litres of blended vegetable oil and 7,000 litres of mixed oil 1 . 06
P roduction of exotic fruits and ve g e t a b l e s ,including punnets of vegetable salads, f rench salads, punnets of fruit salad and 0 . 35
50,000 litres of fresh juice
Establishment of a medium size wheat milling plant for production of flour 0.97
To u r i s m
Construction of a high class hotel at Chirinda Fo re s t ,M u t a re 7 . 09
Setting up of an eco-tourism project in the mountains of the Central Province for game loving guests that should 1 . 49
cater for hikers and photograp hy.A lodge at Bindura, Mashonaland is to be built
Construction of a top class hotel with confe rence facilities at Osborne Dam, M u t a re 5 . 83
Provision of travel and prepaid packaged tours and to cater for an estimated market of 60,000 people on day tours 0.52
and excursions
M i s c e l l a n e o u s
Equity partner sought to produce Po rtland cement utilising locally available re s o u rc e s .The project is promoted by both 1 4 . 9 0
the Industrial Development Corporation (Zimbabwe) and a Chinese company
To engage in the extraction of black granite to meet increased fo reign demand and undertaking re l evant marketing 6 . 0 0
a c t i v i t i e s
P roduction of metal equipment such as agricultural implements, hand implements, wheel barrows and window/door 1 . 3 8
f r a m e s
Construction of shell factories to be leased out to budding entre p re n e u r s .The project is promoted by the City of 2 . 5 0
G we r u
S o u rc e s :Z i m b a b we Investment Centre, 1 9 9 8 .
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