tendai_biti_.jpgFinance Minister, Mr Tendai Biti says he is positive the country will this year be able to achieve a double digit economic growth target though much attention is needed for infrastructure rehabilitation and development.

As the government crafts policies to increase regional trade in order to unlock investment inflows, Finance Minister Mr. Tendai Biti is confident that the arrangement will achieve positive results.  

In an interview, Minister Biti said he is optimistic the country is this year targeting to receive direct foreign investment amounting to 10% of the Gross domestic product as well as a double digit economic growth.

Giving an overview of last year’s economic activities Minister Biti said positive economic growth was recorded as inflation figures went down while capacity utilisation rose from low levels of 4% to 10% by the end of the year and is projected to reach 55% this year.

Minister Biti said despite the inclusive government recording success in the area of social services it did not do well in attracting foreign investment as there was hardly any investment in 2009.

In a related development, representatives of the African regional economic groupings such as COMESA, SADC and East African community have held discussions on modalities to facilitate the smooth flow of goods and services through the removal of barriers to trade.

The discussions which were recently finalised are expected to harmonise trading procedures for the benefit of regional economic groupings of member states thereby promoting economic growth.