dyton mupawaenda
Wallace Ruzvidzo-Herald Reporter
INDIAN investors have poured over US$500 million into Zimbabwe in recent years, as President Mnangagwa’s ‘Zimbabwe is open for business’ mantra continues to pay dividends.
Over the years, business ties have been growing as investors follow-up on the existing political relations.
Speaking at an event to commemorate Indian Technical and Economic Cooperation Day in Harare on Monday night, Higher and Tertiary Education, Innovation, Science and Technology Development Deputy Minister Simelisizwe Sibanda said the increase in Indian investments was testament to the conducive business environment wrought by the Second Republic.
“Indian investments in Zimbabwe are now more than US$500 million. These investments are showing positive growth rates which are indicative of a healthy business environment in Zimbabwe.
“Trade and economic linkages between Zimbabwe and India are also getting stronger with more investments coming to Zimbabwe from India.
“The Indian diaspora community in Zimbabwe is also playing a pivotal role in business, trade and educational linkages between Zimbabwe and India. We are most grateful for these friendly gestures,” he said.
The Indian government, said Deputy Minister Sibanda, had also extended lines of credit worth US$468 million to Zimbabwe, for the Deka pumping and river water intake system supplying Hwange Thermal and refurbishment of the Bulawayo Thermal Station.
“Zimbabwe and India have enjoyed strong and friendly ties since ancient times and the history of cooperation dates back to the 14th and 15th centuries.
“During Zimbabwe’s liberation struggle, India inspired and provided political support and this support has continued even after Zimbabwe’s attainment of independence. The support has become more diversified and structured to include and not limited to political relations, trade and commerce, investments, developmental cooperation and education,” he said.
Turning to the programme for Indian Technical and Economic Cooperation Day, Deputy Minister Sibanda said skills development across all areas was a priority for President Mnangagwa’s administration. The programme would aid Zimbabwe’s attainment of its national vision to become an upper-middle-income society by 2030.
“The ITEC programme is about skills development which is a priority area for Zimbabwe. This is what Zimbabwe is pushing under Education 5.0 where we are targeting skills development. It is a very strong and powerful component.
“We are aware from the skills audit report that Zimbabwe requires major upgrades in skills especially in the public service pertaining to digital literacy, financial management, strategic capability and leadership, change management, policy development, monitoring and evaluation.
“We want to thank the Indian Government for the ITEC programme which will no doubt assist Zimbabwe attain Vision 2030 of an upper-middle-income economy,” he said.
Indian Ambassador to Zimbabwe Mr Vijay Khanduja said India was committed to aiding Zimbabwe’s economic development and growth trajectories.
“The bilateral cooperation has significantly gone up in practically every sector in the last couple of years, but especially in the health, education, agriculture and energy sectors.
“In the field of health, India has gifted 10 ambulances, medicines worth about US$2,2 million, 75 000 Covid-19 vaccines and 1 000 tonnes of rice.
“The education sector has seen installation of the latest CNC machines at the Indo-Zim Technology Centres as part of Phase Il of the project. A number of students go to India to study. This year, over 250 students have been awarded Presidential Scholarships from Zimbabwe to study in India. These are other than the scholarships and training slots provided under different schemes by India,” he said.
Online Reporter