Chronicle Editor
THE Zimbabwe International Trade Fair (ZITF) underway in Bulawayo continues to grow, a confirmation of both local and foreign companies’ confidence in the country’s economy. The country’s premier international trade and investment showcase this year attracted 624 exhibitors who are showcasing their products and services. It is pleasing to note that foreign exhibitors increased to 26 from 21 last year. Hats off to foreign exhibitors who continue to show confidence in our economy.
The Second Republic has been working on a cocktail of measures to attract Foreign Direct Investment. Government working together with the private sector has identified the shortcomings which in the past made Zimbabwe unattractive to FDI hence the stampede to invest in the country being witnessed now in the different sectors of the economy.
In the past potential investors were frustrated by long and protracted procedures which have since been streamlined to create an investor-friendly environment. It is our fervent hope that Bulawayo City Council which is the host, will take advantage of the many foreign exhibitors this year to market the city as an investment destination of choice.
Bulawayo used to be the country’s industrial hub but over the years lost a number of companies that relocated to other cities and towns mainly due to water shortages. The city is now guaranteed adequate water supplies and the completion of the Lake Gwayi-Shangani will ensure the city has adequate water for many years to come. The council and other local authorities should take advantage of the ZITF week to engage potential foreign investors. They should come up with their own engagement meetings outside the schedule of the ZITF to explain what they are offering investors.
The ZITF affords both local and foreign exhibitors an opportunity not just to market their products and services, but to also break new ground and explore new markets. We have said over the years that the trade fair should be a platform to clinch major business deals.
Zimbabwean companies are working on increasing capacity utilisation and it is our hope that many of these companies will during this week identify foreign partners that could assist them expand their operations. It is a fact that most of the foreign companies that are exhibiting at the fair are looking for local business opportunities.
Zimbabwe is endowed with natural resources such as minerals and boasts of highly skilled manpower which is sought-after the world over. We want to once again urge local companies to take advantage of the trade fair to network with their foreign counterparts in order to expand their businesses and their market share internationally.
Online Reporter