Russia keen to support companies

Oliver Kazunga Senior Business Reporter
BULAWAYO. — The Russian government is keen to facilitate technical assistance and lines of credit through the country’s banking system to support the revival of industry.
Industry and Commerce Minister Mike Bimha told a packed business breakfast meeting, organised by Chronicle in Bulawayo yesterday for the visiting Russian delegation, that they had agreed to enter into joint ventures with local firms.

“The delegation came for the joint commission led by the Minister of Industry and Trade from Russia.

“We had fruitful discussions with them and they indicated their willingness to look at two things; the establishment lines of credit for Zimbabwe between their banks and ours, which will then facilitate the funding of on lending to the productive sectors,” said Minister Bimha.

“The other issue was their keen interest in joint venture partnerships.”

The visit by the Russian government officials and business delegation, said Minister Bimha, culminated in a joint permanent commission.

He said the Russians were seeking strategic partnerships in areas such as food industry, clothing and textile, and edible oil sectors, which are critical to the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim-Asset), the Government’s new economic blueprint.

We’re also in negotiations with a company from South Africa that has strong links with PTA Bank . . . and we’re almost getting to sign an MoU again with this particular company to mobilise resources for onward lending to local companies.”