Government is negotiating new Bilateral Investment Promotion and Protection Agreements (BIPPAS) with 18 countries in order to increase revenue inflows and restore industrial productivity to full capacity.
The move is being done to consolidate economic gains as well as ensuring that Zimbabwe creates partnerships with regional and international economies with a view of increasing productivity in strategic industries.
TheÂ PermanentÂ Secretary in the MinistryÂ of Economic Planning and Investment Promotion, Dr Desire Sibanda confirmed that negotiations for the 18 proposed BIPPAs with countries such as Zambia, Tanzania, Singapore, Malaysia and Mozambique, among others, are at an advancedÂ stage.
â€œWe hope this will boost economic activity and production within the economy,â€ said Dr Sibanda.
An economic commentator, Mr Zacks Murerwa says it is important for the government to conclude the BIPPA transactions that will facilitate recovery of companies and stabilise the economy.
â€œSuch BIPPA deals should translate into meaningful investments,â€ he said.
Zimbabwe has already concluded BIPPA deals with Botswana, South Africa and India but economic observers are urging Government to ensure that the agreements are put into reality for the benefit of industry and households.