President Emmerson Mnangagwa has called on foreign investors to commit their investments in the country’s chromium sector saying it is open for the injection of new capital and investment inflows.
Speaking during the 35th International Chromium Development Association (ICDA) Conference yesterday, President Mnangagwa said his government continues to make responsive laws to reform the country’s business operating environment through policies that are transparent, consistent and predictable.
“We are a country endowed with vast natural resources and a huge growth potential particularly in the chrome and platinum group of metals mining sub-sectors. As our country accelerates its modernisation and industrialisation agenda, the development of these mining sectors will be given greater attention in our bid to accelerate economic growth.
“In response to market expectations and global best practices, we continue to make responsive laws to reform our business operating environment through policies that are transparent, consistent and predictable.
“We have implemented amendments to the Indigenisation and Economic Empowerment Act and investors are also free to choose to partner with locals on mutually beneficial and agreed conditions.
“All investors are free to repatriate their dividends in accordance with our laws,” said President Mnangagwa.
He added that the country is determined to increase its chromium productivity and total output contribution to the global supply matrix.
“As a country with the second largest chrome reserves in the world, it’s most opportune that you chose Zimbabwe as the host for the 2019 edition of the ICDA conference.
“As the global demand for chrome steadily increases, we are determined to increase our national productivity and total output contribution to the global supply matrix in line with chrome resources in our country.
“To achieve this, Zimbabwe’s chromium sector is open for the injection of new capital and investment inflows.
“I, therefore, invite you to commit your investments in our chromium sector and explore possible investments in any of our wide range of exciting mineral resources some of which are not yet explored,” added Mnangagwa.