Government has embarked on an investment tracking system aimed at ensuring that approved projects are implemented to create new jobs and restore macro- economic stability.The plan is being made following concern from stakeholders that in spite of an improvement in local and foreign approved projects during the past two years, many investments that have been given authority to operate are failing to take shape, a move that is creating a false impression about domestic and external investment inflows.
Although Government has launched a one stop investment shop meant to reduce the period of investment approvals from six months to at least five days, Government has resolved to undertake follow ups on projects to ensure that they are fully implemented.
The Permanent Secretary in the Ministry of Economic Planning and Investment Promotion, Dr Desire Sibanda said the tracking of investments will enable Government to compile accurate data on implemented projects.
â€œIndeed it is true that we are embarking on such a system which we hope shall in the future provide the basic impetus to economic recovery,â€ said Dr Sibanda.
Government is also being called upon by stakeholders to embark on an audit of regional and external business delegations that have come into the country to explore investment opportunities so as to ensure that their proposals on investment and joint ventures with local firms are implemented to consolidate economic gains that have been achieved following the introduction of the multiple currency system within the economy in February 2009.