'Re-engagement policy paying off'

'Re-engagement policy paying off'
Published: 19 May 2018
The President Emmerson Mnangagwa says the re-engagement policy is paying off with new investors coming every week while internal private companies are also alive to rebuilding the economy.

The Zanu-PF presidential candidate for the 2018 harmonised elections President Emmerson Mnangagwa who was on a mission to commission the Herbert Chitepo Barracks in Mutare addressed a packed welcome rally at Sakubva Stadium today.

It was his first time to address a rally in the town since he became president in November last year.

The President said the amount of foreign direct investment (FDI) so far is over $15 billion following the increased number of business deals concluded by the new dispensation and its policy of re-engagement with both friendly and former non-allies.

He said last week alone saw a South African company bringing in $1.01 billion while another one that is already in the country brought to the table a $65 million deal.

President Mnangagwa outlined other projects that are coming up as a result of Zimbabwe's partnership with China and Qatar, countries that he recently visited on his reengagement missions.

The President also announced that according to the Manicaland Development Plan, Mutare is being given special economic zone status for the creation of exports through the port of Beira.

He noted government has come up with a policy that mineral rich communities should be supported by their resources particularly gold, platinum and diamonds.

On cash availability, Mnangagwa revealed Zimbabwe recently received $100 million line of credit from Britain for the first time in 20 years, a move that is expected to address liquidity challenges.
- zbc
Tags: Policy,


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