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MACRO-Economic Planning and Investment Promotion Minister Obert Mpofu has called on Chinese businesses to invest more in energy and power development projects to mitigate power shortages affecting the country.
Speaking during the Zimbabwe-China Investment conference, Minister Mpofu said the government was committed to assisting investors keen on energy projects.
“We wish to encourage Chinese investors to invest in our infrastructure particularly energy. We’re committed to improving the supply of energy to achieve economic growth. Chinese companies are being invited in a big way to invest in energy,” he said.
The country is faced with a serious power shortage, a situation which has seen customers, both commercial and domestic, enduring many hours without electricity.
Zimbabwe’s two major power plants have been facing challenges as a result of low water levels at Kariba Hydro Power Station and recurrent breakdowns at Hwange Thermal Power Station.
Kariba has the capacity to produce 750 megawatts but was forced to lower production to 475MW while Hwange, with a capacity of 920MW is generating an average of 500MW.
The minister said the government would put in place measures to attract foreign investment in all sectors to help turnaround the economy.
“The government is committed to removing all obstacles for private sector development and Chinese companies must create joint ventures with our local companies,” he said.
In his remarks during the same event, secretary in the ministry Desire Sibanda said Zimbabwe was prepared for more Chinese investments.
“To date there are several Chinese companies operating in the country in various sectors and we expect an increase in Chinese investments in 2016 both in current sectors in which Chinese companies are operating as well as in sectors which are of priority to the economic turnaround of the country,” he said. — BH24
derick.khumalo