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Tinashe Makichi, Harare Bureau
Chinese multinational group, Touchroad Holdings, is scouting for further investment opportunities in the agriculture and infrastructure sectors of Zimbabwe, after recently making a commitment to set up a multi-billion dollar tourism city in the country.
The Chinese firm plans to develop a $7 billion tourism city in Zimbabwe as interest by tourism investors from the Asian economic giant
grows.
A nine-member Chinese technical delegation from Touch International Holdings Group, which recently signed a $1,2 billion memorandum of understanding (MoU) with Government for the investment in the tourism and hospitality industry, arrived yesterday.
The delegation, led by Division of Asian and African Affairs director Shi Hua Huazhong, is an advance team for 17 Chinese billionaires who are expected to visit the country in June this year.
In an interview, Mr Shi said Touchroad Holdings was targeting various sectors of the economy. He said Chinese investors were generally upbeat about business opportunities available in the country.
“This technical delegation is an advance team to scout for opportunities in Zimbabwe following the visit by President Mnangagwa to China recently.
“We need to look at the business processes in the country before a bigger delegation from Zhejiang Province visits Zimbabwe in June this year.
“We are looking at investment opportunities not only in tourism, but agriculture and infrastructure development. We believe there are opportunities in Zimbabwe,” said Mr Shi.
The birth of Touchroad Group can be traced back to May 17, 2000 when He Liehui, the group’s founder, boarded a flight to Ghana to pursue his investment dreams.
Touchroad International Holdings Group has now grown into a multinational business with interest in international trade, investment, cultural exchanges, tourism, industrial park development and special economic zone construction.
Touchroad conducts business with more than 20 African countries, as well as countries in Europe and America.
Zimbabwe Tourism Authority chief executive Dr Karikoga Kaseke recently said there had been massive interest from Chinese business in Zimbabwe’s tourism sector and the Touchroad chairman was expected in the country to explore more investment opportunities.
He said Touchroad Holdings chairman He Liehui would be accompanied by 17 billionaires from China to scout for investment opportunities and the site for the tourism city.
Dr Kaseke said the tourism city would be located outside Bulawayo or Harare, but Victoria Falls would not be considered because of many other potential investments projects that have since been signed for the country’s premier tourism resort.
Touchroad is the first Chinese private enterprise authorised to build a special economic zone in Africa — the Touchroad Djibouti Special Economic Zone (TDSEZ). The special economic zone is set to be a fulcrum of China’s Belt and Road Initiative in Africa.
Online Reporter