The invitation of President Emmerson Mnangagwa to the World Economic Forum in Davos Switzerland has renewed optimism in local industry, which has been reeling from low capacity utilisation as a result of poor to non availability of capital investment.

The Confederation of Zimbabwe Industries president Mr Sifelani Jabangwe said they are optimistic that the Davos meeting is going to be a significant headway in the attraction of serious investors to local industry through business reforms that boost investor confidence.

The invitation to the World Economic Forum comes at a time the country is in the process of implementing the special economic zones as part of measures to lure investors to the country.

Board chairperson of the Special Economic Zones, Dr Gideon Gono said they are hoping for an addition of the already positive development coming from the programme which has since courted investors in the mining and manufacturing industry under the Steel Allied Industries in Kwekwe and Gweru.

Industry capacity utilisation has remained low owing to poor capitalisation, use of obsolete equipment and various other macroeconomic challenges which include foreign currency shortages.

The re-engagement process to the international community is a welcome development to highly skilled human capital Zimbabwe possesses.