Zim parastatals to attend China Fair

The delegation will consist of players from the private sector, local authorities and State Enterprises and Parastatals (SEPs).
The fair is expected to provide new business opportunities especially for the latter.
State enterprises and parastatals that will be attending the event include the People’s Own Savings Bank, Infrastructure Development Bank of Zimbabwe, Agricultural Bank of Zimbabwe, TelOne, NetOne, Zimbabwe Power Company, Zimbabwe Mining Development Corporation, Minerals Marketing Corporation of Zimbabwe, Zimbabwe National Water Authority and the Grain Marketing Board.
State Enterprises Restructuring Agency executive director Mr Edgar Nyoni said the local SEPs will benefit from the business opportunities with China that the fair provides.
“Sera is co-ordinating the logistics of SEPs attending this important symposium.
“As part of the restructuring programme, Sera together with these SEPs will be given an opportunity to identify possible strategic investors, explore lines of credit and access technology
Mr Nyoni also highlighted that a “Project Matchmaking Symposium” will be organised during the event, which will help to assist the SEPs in identifying potential investment opportunities.
The Project Matchmaking Symposium can also help local SEPs to draw lessons from China successful SEPs system.
China has reformed its State enterprises to meet the challenges of increasing global competition through its Zhengqifenkai policy, which formally separates the functions of the Government from the business operations of the enterprises.
“Taking part in CIFIT provides a bird’s view on the investment opportunities in and beyond China with minimal time and costs,” he said.
Zimbabwe has been in the process of restructuring its SEPs with the initial phases of restructuring were fairly successful as evidenced by the success stories of privatisation of the Commercial Bank of Zimbabwe, Dairibord Zimbabwe, AICO, Zimbabwe Reinsurance Company, CAPS (Pvt) Ltd and recently Ziscosteel.
Ten more firms have been identified under the current restructuring phase, namely: Agribank, Cold Storage Company, Air Zimbabwe, National Railways of Zimbabwe, Zimbabwe Electricity Supply Authority, the Grain Marketing Board, NetOne and TelOne.
Participation at the CIFIT, in view of the current restructuring exercise, will also serve to mobilise financial resources to improve some of these SEPs’ capacities. According to the event’s brochure, CIFIT aims to promote international investment and it will run under the theme “Attracting foreign direct investment and going global”.
Its major contents include investment and trade exhibitions, investment forums and seminars.
CIFIT showcases the investment environments, investment policies, investment projects and corporate products in all provinces, autonomous regions and municipalities directly under the central government in mainland China.
It also attracts investment promotion agencies from dozens of countries                    and regions to conduct investment briefings.