Online Reporter
Lincoln Towindo in WENZHOU, China
Vice President Dr Constantino Chiwenga has called for a shift in Zimbabwe’s economic cooperation with China, urging companies from the Asian country operating locally to refocus towards processing minerals extracted locally into finished products.
He made the remarks here this morning during a bilateral meeting with Wenzhou City Mayor Zhang Wenjie, where he outlined Zimbabwe’s drive to deepen economic cooperation with China through investment, beneficiation, value addition and industrialisation.
VP Chiwenga said Harare wanted Chinese investors already operating in the country to complete the manufacturing value chain in Zimbabwe, leveraging the country’s abundant reserves of lithium, cobalt, nickel, iron ore and other strategic minerals.
He said Zimbabwe’s objective was to ensure that its mineral wealth became the foundation for manufacturing industries capable of supplying both the domestic and regional markets.
“We have stated, Mr Mayor, that we are endowed with an abundance of natural resources. We need to bring those resources together, but we need to industrialise and manufacture in Zimbabwe so that it is greatly beneficial for both our people,” he said.
The Vice President cited Chinese companies operating in Zimbabwe, including Tsingshan and CHINT, as examples of the growing economic links between the two countries.
CHINT, which is headquartered in Wenzhou, is introducing solar energy products into the local market, including lithium-ion batteries, solar converters, solar panels and electricity transformers.
Tsingshan, through its subsidiary Dinson Iron and Steel Company, is producing steel at its Manhize plant in the Midlands.
Dr Chiwenga, however, said Zimbabwe wanted such investments to go further by completing more of the manufacturing process locally.
“We would want both companies to complete the manufacturing process in Zimbabwe because we have the minerals needed to manufacture these products,” he said.
VP Chiwenga is on an official visit to China, leading an investment promotion mission engaging the private sector on potential partnerships and investment opportunities.
