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Zimbabwe’s economic sectors, particularly in infrastructure development and energy.
In a speech read on her behalf by Tourism and Hospitality Industry Minister Mr Walter Mzembi during the Brazil-Zimbabwe Business Seminar here, she said Brazilian firms could take advantage of Government policy on public-private partnerships.
“Opportunities abound for investment in infrastructure development through concepts such as Build Operate and Transfer, Build Own Ooperate and Rrehabilitate, Operate and Transfer,” she said.
“The BOT opportunities include the construction and maintenance of the road network, the railway lines, refurbishing airport terminal buildings and civil works on airport taxi ways and runways.”
The business seminar was one in a series of business meetings that are being held here as Zimbabwe seeks to attract investment from South America’s biggest economy.
Over 100 delegates who included representatives from local companies, both private and State owned, Brazilian big corporations and senior officials from both Governments were in attendance.
VP Mujuru said there were also great investment opportunities in the country’s energy sector, with the market extending to the Southern African region where a deficit of 3 000MW is projected by 2015.
“Opportunities exist in expansion of hydro and thermal power stations, methane gas, solar and other renewable energy sources. Like other members of the Sadc region, Zimbabwe faces an energy deficit and yet the availability of energy is a prerequisite to economic growth and development.
“As such Government has opened up the energy sector to allow entry of independent power producers. Zimbabwe invites producers who have the capacity to produce electricity for national distribution,” she said.
While Zimbabwe was a country which respects property rights, VP Mujuru said the country’s was working on perceived risk perceptions, in an apparent reference to the country’s empowerment laws which requires foreign firms to localise at least 51 percent shareholding.
She added that the establishment of One-Stop Shop was aimed at eliminating difficulties in facilitating investments.
This has seen the time taken to grant investment being reduced to five working days.
The Vice President said the business seminar could mark a turning point in the economic relations between the two countries.
The Zimbabwe Investment Promotion Agency said the country was looking for companies willing to invest in sectors across the economy, particularly in value addition.
The agency noted that while Zimbabwe was already trading with Brazil, it was largely in favour of the South American country.
Zimbabwe Investment Authority chief executive Mr Richard Mbaiwa gave a brief summary on procedures taken in facilitating investments, which he described as favourable.
Speaking at the same function, Brazil Trade and Investment Promotion agency head Ms Helena Souza said Brazil, in the recent years, increased investment in Africa
Brazilian companies, which participated at the seminar, said they would seriously consider doing business with Zimbabwe.
However, most of them expressed concern over logistical challenges that they were likely to encounter.
Online Reporter