The mining industry is dominating investment project approvals where 35 companies valued at US$260 million have been authorised to operate in the country since January this year.Â Â
According to an investment report compiled by the Zimbabwe Investment Authority (ZIA) for the past nine months, the miningÂ industry is leading in investment approvals, followed by manufacturing, tourism, services, construction and agriculture.
The total investment approvals between January and September this year, surged to 132 worth US$1, 6 billion from 86 valued at US$500 million over the same period last year.
ZIA Chief Executive Officer, Mr Richard Mubaiwa said the growth in the mining sector has led to this positive development.
â€œMining sector investment is on the increase and we hope this will continue,â€ said Mr Mubaiwa.
In spite of an increase in the growth of investment project approvals, Mr Mubayiwa said the investment authority is concerned with the slow pace at which some of the approved projects are being implemented.
â€œThe slow pace is really worrying us and we hope something can be done,â€ he added.
Government this year transformed ZIA into a One Stop Shop to reduce the period of investment transactions to five days from the previous six months, as well as ensuring that all investment approvals are done under one roof for the benefit of investors.