United States Ambassador to Zimbabwe Pamela Tremont says Zimbabwe’s efforts to attract foreign investment will succeed only if the country strengthens investor confidence through predictable policies, security of tenure, an independent judiciary and stronger action against corruption.
Addressing the inaugural Edge of Impact Conference on Artificial Intelligence and Cybersecurity organised by the American Chamber of Commerce in Zimbabwe in Victoria Falls on Wednesday, Tremont said while Zimbabwe possessed significant opportunities in critical minerals, agriculture and technology, investors ultimately based decisions on confidence in the operating environment.
“Businesses make investment decisions based on confidence: confidence in predictable regulations and policies, security of tenure, and an independent judiciary that honors contracts and eschews corruption,” she said.
She stressed that these were not uniquely American expectations but universal requirements for attracting quality international investment.
“Rule of law, transparency, constitutional protections, and anti-corruption are not just high-minded ideals of western countries. They are not obstacles to development. They are the foundation of development.”
Her remarks come as Zimbabwe continues promoting its “Zimbabwe is Open for Business” campaign to attract foreign direct investment through economic reforms and improved ease of doing business.
However, Tremont cautioned that branding alone would not secure investment in an increasingly competitive global market.
“Zimbabwe’s motto that is open for business is great. But that’s every country’s motto. Capital, like water, flows to the easiest place to settle.”
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She said investors increasingly sought complete investment ecosystems, including reliable electricity, secure digital infrastructure, skilled labour, trusted financial systems and robust cybersecurity.
“Trust has become one of the world’s most valuable economic assets,” she said, adding that businesses invested where data was protected and digital infrastructure could be relied upon.
Tremont also linked Zimbabwe’s mineral wealth to the rapid expansion of artificial intelligence, saying the country had an opportunity to extract greater value from its resources through technological innovation rather than relying solely on traditional beneficiation.
She noted that Africa holds about 30% of the world’s critical mineral reserves, which are essential for electric vehicles, data centres and AI technologies.
“Yet having natural resources is not enough. The real question is how countries create greater value from those resources,” she said.
While acknowledging Zimbabwe’s ambitions to expand mineral beneficiation and value addition, Tremont said those goals required substantial investments in electricity, water and industrial infrastructure.
“There is much discussion about beneficiation and value addition, which are valid goals but they require quantities of power, water, and infrastructure Zimbabwe does not yet have.”
Instead, she argued that artificial intelligence offered an additional pathway to increase mining productivity and returns.
Citing research by the Atlantic Council, Tremont said AI-driven mining technologies could save the global mining industry between US$290 billion and US$390 billion annually by 2035 through smarter exploration, greater efficiency and improved operations.
She said AI systems could analyse geological surveys, satellite imagery, drilling records and geochemical data, enabling mining companies to identify promising deposits more quickly while reducing exploration costs.
“This is not science fiction,” she said.
Tremont cited US firm KoBold Metals’ use of machine learning in Zambia to redesign copper exploration strategies as an example of AI transforming the mining industry.
She added that companies across Southern Africa were increasingly deploying predictive analytics, satellite technologies, digital twins and computer vision systems to improve safety, reduce water consumption and increase mineral recovery.
“Lower operating costs for companies means more taxable revenue for state coffers and ultimately for development,” she said.
Tremont said the United States wanted Zimbabwe to succeed because stronger economies created better trading partners, investment opportunities and regional prosperity.
She said development should increasingly be measured by innovation, commercialised ideas and sustainable employment rather than infrastructure projects alone.
“The greatest development projects of the 21st century will not be measured only by roads built or buildings constructed. They will be measured by ideas commercialised, jobs sustained, and partnerships that generate opportunity for generations to come.”
She described artificial intelligence as an opportunity for Zimbabwe to leapfrog development challenges in much the same way mobile telephony transformed communications across Africa.
Highlighting Zimbabwe’s educated workforce, entrepreneurial culture, strategic location, agricultural potential and mineral resources, Tremont said the challenge was connecting those strengths more effectively.
“The question is how we connect them more effectively.”
She said the United States remained committed to working with Zimbabwe on bankable projects, commercial partnerships, entrepreneurship and trade, while praising the American Chamber of Commerce in Zimbabwe for linking local businesses with American companies.
“AmCham is more than a business association. It is a bridge between Zimbabwean entrepreneurs and American companies,” she said.
Tremont concluded that countries combining natural resources with innovation, good governance, secure digital systems and international partnerships would be best positioned to compete in the global economy.
“The future will not belong simply to countries with the most minerals. It will belong to countries that combine natural resources with knowledge, innovation, good governance, secure digital systems, and international collaboration,” she said.
