adminIndian Industry, Commerce and Textiles Minister Anand Sharma will lead the delegation comprising at least 24 companies representing various sectors including agriculture, Information Technology, mining, finance, manufacturing and energy.
The visit is a follow-up to an earlier one in September last year led by Minister of State for Commerce and Industry Jyotiraditya
Scindia who brought a delegation from the Confederation of Indian Industry.
Economic Planning and Investment Promotion Secretary Dr Desire Sibanda said ratification of the Bilateral Investment Promotion and Protection Agreement (BIPPA) between Zimbabwe and India late last year helped provide impetus to investment relations between the two countries.
“Zimbabwe and India have strong business ties as personified by the ratification of the BIPPA between the two countries late in 2011,” he said.
As part of the visit an investment conference will be held in Harare under the banner: “Partnership for Growth”.
Dr Sibanda said some of the objectives of the visit included providing a platform for decision makers both in the private and public sectors from both countries to discuss specific opportunities.
Indian companies would also be provided with the opportunity to participate in projects in Zimbabwe through partnerships as well as get more information on identified priority sectors as outlined in the Medium Term Plan.
They will also be apprised of the investment and business environment currently obtaining in the country.
“Government is committed to raising foreign direct investment levels from the four percent of GDP registered in 2009 to at least 25 percent by 2015.
“In this regard the Ministry of Economic Planning and Investment Promotion is intensifying its international investment promotional tours and conferences to showcase Zimbabwe as a viable investment destination in order to meet this target,” Dr Sibanda said.
The Indian delegation will meet government officials and the private sector to explore areas of co-operation and investment.
Approximately $9,2 billion in investment is required to finance the MTP in order to meet growth and development targets during the plan period with foreign direct investment expected to provide a significant chunk of the inflows. — New Ziana.
Online Reporter