COVID-19 AFFECTS DIRECT FOREIGN INVESTMENT

A Polytechnic based economic expert has said the country has lost out on foreign direct investment over the past year due to Covid-19.

In an interview with Timveni, Dr Betchani Tchereni said "there has been slow progress in terms of investment" over the last 12 months "due to restrictions that were imposed in different countries."

"There has been interest from the private sector in banking, insurance and property development but meaningful investment is yet to be seen on the ground," said Dr Tchereni.

Dr Tchereni further bemoaned lack of commitment from some stakeholders which turns off potential investors although the country has held so many meetings on investment. 

Meanwhile the country is expected to hold a summit for Least Developed Countries which will be held from 22^nd to 26^th February.

The objective is to adopt an outcome document of the Thirty-Three LDCs of Africa and Haiti in preparation for the fifth UN Conference on the LDCs scheduled to take place in Doha, Qatar from 23 to 27 January, 2022.