Online Reporter
Kuda Bwititi, in Shanghai, China
Zimbabwe presented its open for business policy to Chinese investors in Shanghai on Thursday, with the ministries from three provinces, Mashonaland Central, Mashonaland East and Midlands making direct pitches for capital and partnerships in sectors such as mining, agriculture, infrastructure and tourism.
The highly subscribed business forum was held on the sidelines of the China International Import Expo (CIIE) that opened in Shanghai on Wednesday and will run until November 10.
In his keynote remarks, Mashonaland East Provincial Affairs and Devolution Minister, Advocae Itai Ndudzo, said the recent elevation of ties between Zimbabwe and China to a Five-Star Iron Clad Status fosters accelerated industrialisation and enhanced trade.
“The goal is to further strengthen and deepen the relationship for mutual benefit,” said Advocate Ndudzo.
“We are fulfilling the consensus reached by our two Heads of State in September 2024, where they pledged to increase economic cooperation at both the Government and private sector levels, to achieve shared growth and prosperity.”
He said several initiatives have been launched to enhance economic relations between the two countries.
“China is a key economic partner to Zimbabwe. This is reflected by our investment and trade statistics, which show that China is Zimbabwe’s largest investor, while on the trade front, China is Zimbabwe’s third largest trading partner,” he said.
“Our overarching objective as Zimbabwe is to build a thriving economy capable of providing opportunities for investment and mutually beneficial partnerships for prosperity.”
In his presentation, Mashonaland Central Provincial Affairs and Devolution, Minister Christopher Magomo, unveiled a portfolio of ready-to-fund projects for key sectors of the economy.
Noting that the province has about 30 mineral resources, Minister Magomo said some remain largely untapped.
“We already have some Chinese investors who are doing well, particularly in mining,” said Minister Magomo.
“The province has immense potential in mining, agriculture, tourism, and many other sectors.”
He said as part of his delegation, he had brought Mazowe Rural District Council chief executive, Mr Liberty Mufandaedza, to Shanghai as an example of “facilitating direct interaction between local authorities and investors to get things done and eliminate bureaucracy.”
Minister Magomo said Mazowe and other districts in Mashonaland Central have vast land available for direct investments and joint ventures.
Midlands province also outlined opportunities available for investment.
At the CIIE expo, Zimbabwe has a pavilion with 15 companies, including large-scale and small-scale enterprises that are attracting investors and buyers.
The eighth CIIE features 4,108 exhibitors from 155 countries.
