Zimbabwe ripe for investment: President

Victoria Ruzvidzo in NEW YORK, USA

ZIMBABWE is ripe for investment from across the globe, with the Government focusing largely on providing the best environment for business to thrive, President Mnangagwa has said.

In a speech read on his behalf here yesterday by Foreign Affairs and International Trade Minister Ambassador Frederick Shava at the Zimbabwe-US Investors Forum, President Mnangagwa said increased investment was critical to the realisation of Zimbabwe’s Vision 2030, which envisions an empowered, prosperous and highly industrialised country within the next six years.

The “Zimbabwe is Open for Business” mantra and non-discriminatory investment policies were critical drivers of the process.

“Please be assured that, notwithstanding various challenges and competing priorities, our Government is focused on providing the key enablers for business operations,” he said.

“These include the provision of sufficient electricity, water and infrastructure. The country has ample investment opportunities in every sector of the economy, as presented by the ZIDA (Zimbabwe Investment and Development Agency) CEO.”

ZIDA chief executive officer Mr Tafadzwa Chinamo had earlier presented on existing opportunities to the more than 80 American investors and Zimbabwe diaspora representatives at the forum.

Yesterday’s meeting served to consolidate interaction between American and Zimbabwe diaspora investors, as well as representatives from some arms of Government critical in processing investments.

President Mnangagwa commended efforts by the diaspora, particularly in the country’s development discourse.

“I am happy with the efforts being made by the Zimbabwe diaspora to stand, all hands on deck, in building our country.

“Government’s thrust is to involve you in the development of the country. As Government, we will continue to do our utmost to support you so that you can achieve all your lofty goals.”

He also acknowledged the keen interest in Zimbabwe exhibited by delegations from the United States that had come to Zimbabwe, scouting for business opportunities over the last few months.

In March this year, the Atlanta Black Chamber of Commerce led a 21-member delegation, whose progressive interaction with Zimbabwe’s private sector was bearing fruit.

The Illinois Black Chamber of Commerce was in the country last month to prepare for a delegation of at least 75 investors scheduled to visit in December.

“I sincerely hope that your visits to Zimbabwe demonstrated that Zimbabwe is indeed open for business. Accordingly, I warmly welcome you as our team of brand ambassadors and call on you to become investment advocates and spokespersons for the Zimbabwean investment arena to other Americans who may be hesitant to do business in Zimbabwe,” said President Mnangagwa.

Zimbabwe, he said, was strategically located in the heart of Southern Africa, playing a critical role in regional economic integration and exposing investors to markets in the region.

Its membership in the Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa and the African Continental Free Trade Area guaranteed preferential market access to the region.

Furthermore, the country’s peace and stability, a highly educated and skilled population, good

climate and diverse natural resources made Zimbabwe a compelling case for investment, he added, as he implored more investment to come Zimbabwe’s way.

“I repeat: Zimbabwe is open for business. The Government has put in place the right framework and environment for business to flourish,” said the President.

“Please come to Zimbabwe and take advantage of these opportunities. I invite you to partner with us in implementing our development agenda towards the realisation of our nationally and internationally agreed development goals. We all stand to benefit from this partnership.”

The forum was also attended by Tourism and Hospitality Industry Minister Barbara Rwodzi; Youth Empowerment, Development and Vocational Training Minister Tino Machakaire; Zimbabwe’s Ambassador to the US Tadeous Chifamba; Zimbabwe’s Permanent Representative to the UN Ambassador Taonga Mushayavanhu; Permanent Secretary in the Ministry of Foreign Affairs and International Trade Ambassador Albert Chimbindi; and Zimbabwe Electricity Supply Authority (Zesa) chairperson Dr Sydney Gata, among other officials.