Indonesia, South Korea to support Zim industrialisation

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INDUSTRIALISTS from Indonesia and South Korea have offered to support Zimbabwe’s industrialisation programme by supplying the necessary retooling equipment.
The pledges were made by Indonesian deputy ambassador Partogi Samosir and Chahng Woo Seock, a representative of South Korean industrial machinery producing company, Pasco Daewoo Corporation.

BY SILAS NKALA

Since 2000, Zimbabwe has been battling closure of major industries and capital flight due to economic problems caused by government’s skewed policies that scared away investors.

Most companies in Bulawayo closed shop, while the remaining industries are grappling with obsolete equipment which cannot cope with the modern production trends.
Speaking at the Confederation of Zimbabwe Industries meeting in Bulawayo, Samosir said Indonesia’s relationship with Zimbabwe was a win-win. He said they intend to strengthen the relationship.

Samosir said from 1997 his country was affected by an economic recession, but has since recovered and its production has stabilised such that they have extended their market base to Africa and other continents.

“We are enjoying relations with Africa particularly Zimbabwe. We also have engaged in production of military uniforms for the United States of America and have become a role model for several textile companies across the world,” he said.

Samosir said through their company, Shine Africa, they sell armored cars across the world.

While Seock said his company has more than 100 branches around the world through which they sell industrial equipment. He said the company’s revenue is $16 billion.

“We produce equipment for development in agriculture, mining, infrastructure development, industrial retooling and road and rail aligning equipment,” he said.

The meeting was held on the sidelines of the Zimbabwe International Trade Fair which will be officially opened by President Emmerson Mnangagwa today.