Online Reporter
Sikhulekelani Moyo [email protected]
CHINESE investment in Zimbabwe has surpassed US$10 billion in cumulative foreign direct investment, with more than 500 Chinese companies now operating in the country and contributing to the Government’s re-industrialisation agenda, officials have said.
Speaking at the recent Bulawayo Investment Indaba, Dinson Industrial Group public relations manager Dr Joseph Shoko, representing the chairman of the Chinese Chamber of Enterprises in Zimbabwe and Dinson Industrial Group chief executive officer Mr Benson Xu, said the latest wave of Chinese investment was increasingly centred on strategic partnerships rather than capital injection alone.
“Mr Xu represents the new wave of Chinese investors who are not only paying capital but also forging strategic partnerships with the Government, local enterprises and also local communities,” said Dr Shoko.
He said the approach sought to accelerate industrialisation, modernise infrastructure and integrate local communities into investment-driven value chains.
“His work exemplifies our investment where we structure partnerships and catalyse re-industrialisation, modernise infrastructure and integrate local communities into the value chain,” he said.
Dr Shoko said partnerships remained critical in translating investment into broader economic transformation, noting that Chinese companies had already made significant contributions to industrial development in Zimbabwe and Bulawayo.
“Without them, countries remain isolated. Within them, Bulawayo can rise again as a source of industrial output,” he said.
He said successful investment partnerships should drive infrastructure development, industrial production, job creation, skills transfer and improved market access.
Dr Shoko said Dinson Iron and Steel had grown into a US$1,5 billion global partnership under Mr Xu’s leadership, anchoring investments in engineering, construction and manufacturing.
He said Chinese firms were also investing in key sectors identified during the Zimbabwe-China symposium held in July, including energy, infrastructure, rail transport, lithium processing and agricultural value addition.
Dr Shoko said planned and ongoing investments included a power station, upgrades to Robert Gabriel Mugabe International Airport and Victoria Falls International Airport, as well as support for rail infrastructure modernisation.
He said Chinese investors were also exploring lithium-processing projects that could culminate in battery production, while agricultural value addition and solar energy continued to attract growing interest.
“China, our colleague, is always coming in. They have already played a part in power stations, upgrading the Harare and Victoria Falls airport infrastructure,” said Dr Shoko.
He said the Gwayi-Shangani project had the potential to expand irrigation and unlock new opportunities in agricultural production and agro-processing.
Dr Shoko said bilateral trade between Zimbabwe and China had grown to more than US$4,4 billion.
He said Mr Xu, who has spent 12 years in Zimbabwe, believed Bulawayo could become a driving force behind the country’s industrial resurgence.
“He once said the focus should be on Bulawayo, resuscitation of industry in Bulawayo, which is what we are gathered here for and we have gathered here at the right time when Chinese investment is actually in momentum,” said Dr Shoko.
He invited stakeholders from Bulawayo Metropolitan Province to tour Dinson’s Manhize operations to gain a better understanding of the company’s products and explore opportunities within its value chains.
Dr Shoko said Chinese investment should go beyond the establishment of factories and focus on community development and strengthening local industries.
“Chinese investment in Zimbabwe will not just be about steel plants, factories full of gas on a balance sheet. It is going to be about building communities, strengthening industries and creating resilience for generations to come,” he said.
