SEZ bill move in right direction

THE signing into law of the Special Economic Zones (SEZs) Bill by President Mugabe last week is likely to attract more Foreign Direct Investment.

At $305 million to June 2016 investment into the country is still very low at two percent of Gross Domestic Product (GDP). We need double digit FDI figures as percentage of GDP for it to be meaningful. SEZs assist local entrepreneurs to attract investors and partnerships.

The Industrial index closed the week higher at 120.34 points after gaining 0.07 points (0,06 percent). Delta was marginally up by $0,0004 to close at $0,7300 and Nicoz Diamond picked up $0,0028 to close at $0,0198.

There were no counters trading in the negative territory. CFI(CFI.zw), Fidelity Life, General Beltings Holdings, GetBucks, Innscor, Seedco and Truworths all traded unchanged at $0,0950, $0,1100, $0,0002, $0,0370, $0,3115, $0,8200 and $0,0050 in that order.

The Mining index lost 0.40 points (1,17 percent) to close at 33.71 points after Bindura lost $0,0005 to close $0,0195. Falgold, Hwange and RIO ZIM remained unchanged on previous price levels at $0,0050, $0,0300 and $0,1900 respectively.

The mining index lost 0.05 points (0,15 percent) compared to week ending 28 October 2016.

Week on week the industrials lost 0.12 points (0,10 percent).