Let’s implement agreed projects: VP Chiwenga

Mukudzei Chingwere in NEW DELHI, India

PARTICIPANTS at the Africa Conclave on India-Africa Partnership should work towards ensuring that all proposals and agreements made are implemented, Vice President Dr Constantino Chiwenga said yesterday.

He was speaking at the closing ceremony of the conference that brought together people from countries with huge investment opportunities and wealthy people or representatives of companies that have huge sums of money they wish to invest.

The Mutapa Investment Fund, a sovereign wealth fund established by Government, participated in the conference and entered into many multi-sectoral investment agreements with Indian firms.

Once the agreements are operationalised, the fund’s operations would be greatly transformed.

The National Railways of Zimbabwe, ZESA and the Industrial Development Corporation and its Willowvale Motor Industries subsidiary are among Zimbabwean companies that are in negotiations for funding with Indian firms.

Said VP Chiwenga: “We need to keep the momentum and finalise on all the memorandums of understanding and projects that we have committed to. The impetus and objectives of this business conclave should be maintained and followed through. As a country, we commit to continue the conversation with prospective investors and traders.

“As we part today, let me encourage all of us to take advantage of our engagements during these three days and follow up on the business contacts shared, investment and trade conversation initiated during the 19th Confederation of Indian Industry India Africa Business Conclave and make good use of these going forward.”

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Zimbabwe was ready to absorb investments in agriculture, mining, manufacturing, health, energy, ICT, space technology, tourism and infrastructure sectors.

VP Chiwenga said Zimbabwe offered lucrative incentives to all investors and excellent terms of trade as guided by the World Trade Organisation regulations.

He emphasised that Zimbabwe was ripe for investment, riding on the peaceful environment prevailing in the country, predictable policies adopted to foster private sector led growth and a continuously improving business environment.

India’s Ministry of Commerce and Industry Secretary Sunil Barthwal said they were looking for quick partnerships.