Southern African country Zimbabwea’s new national investment policy offers a potential for growth of the agriculture sector and the economy, which may present opportunities for food processing and manufacturing industry.
Zimbabwean President Emmerson Mnangagwa issued the national investment policy statement in January that outlines the guidelines for investing in Zimbabwe. The policy statement is part of the many efforts by the new government to attract investors and revitalize the poorly performing economy. The priority sectors identified by the policy statement include mining, manufacturing, agriculture, infrastructure development and dam construction. If implemented effectively, this policy could result in an increase in agriculture production, according to U.S. Department of Agriculture report. The trade opportunities may include non-genetically modified (GM) seeds, rice, food ingredients, consumer oriented products, animal feed, animal genetics, bovine semen, dairy products, plant varieties, wheat, sorghum and legumes. “If the food processing and manufacturing sector grows as planned, there will be potential for trade opportunities in food ingredients and such imports of raw materials would be duty free if not available in Zimbabwe.” USDA reported.
In the policy statement Zimbabwean goverment promise to accelerate the establishment of Special Economic Zones (SEZs) in order to attract investment. The SEZs are offering lower taxes, duty free importation of capital equipment, duty free imports of raw materials not found in Zimbabwe.