Daniel Nemukuyu in Delhi, India
MINISTER of Industry and Commerce Mangaliso Ndlovu has called upon Indian firms to grab the opportunity to invest in Zimbabwe with a view to make the African country a leading economic, technological and industrial development partner for India.
Addressing a gathering at an ongoing three-day 14th CII-Exim Bank Conclave on India-Africa Project Partnership here, Minister Ndlovu said Zimbabwe was a promising economy endowed with an assortment of natural resources and other investment opportunities.
The conclave is an annual gathering which provides a platform for Indian and African investors and Governments to improve their trade and investment relations for mutual development.
This year’s conclave started on Sunday and it ends today.
Minister Ndlovu made a public call for win-win investment deals which will mutually benefit Zimbabwe and India.
“Zimbabwe is very keen to become India’s leading economic, technological and industrial development partner in Southern Africa..
“The country occupies a strategic central location in Southern Africa for regionally targeted investment. It is the gateway to COMESA and SADC markets.
“May I, therefore, invite Indian investors to seize these diverse investment opportunities that are on offer,” said Minister Ndlovu.
Zimbabwe, the minister said, was working on improving the ease of doing business in Zimbabwe through removing some bottlenecks stifling investment in the country.
The reforms, Minister Ndlovu said, are being undertaken to make Zimbabwe an upper middle-income economy by 2030 as set out in the Transitional Stabilisation Programme (TSP).
“The reforms and initiatives are all aimed at propelling Zimbabwe towards a middle-income country by the year 2030 as set out in the new economic blueprint, STP,” he said.
Indians, the minister said, were now free to come and do business in Zimbabwe.
“Zimbabwe has taken drastic measures to reform its investment climate and business operating environment to ensure that indeed Zimbabwe is open for business.
“To accelerate trade and investment between the two countries, Zimbabwe has scrapped the rigorous visa requirement for all travelling Indian passport holders,” he said.
The minister invited Indian investors in the areas of pharmaceuticals, agriculture, irrigation, agro-engineering technology, mining, power sector development, water resources management, infrastructural development, technology transfer and value addition, human resources development among others.
Minister Ndlovu said Zimbabwe and India had strong ties which should be continuously cultivated.
“Zimbabwe and India enjoy cordial relations as evidenced by the high level visits by the two countries’ Vice Presidents in 2018.
“Vice President Constantino Chiwenga addressed the 13th CII-Exim Bank’s Conclave and Zimbabwe Day in March 2018, and Indian Vice President Venkaiah Naidu visited Zimbabwe in November 2018,” he said.