Japanese companies keen to invest in Zim: Ambassador

22 Jun, 2014 - 00:06 0 Views

The Sunday News

THE Japanese Ambassador to Zimbabwe, Mr Yoshinobu Hiraishi, says a number of the Asian nation’s companies had expressed an interest to invest in various sectors of the country’s economy.
He said a number of potential investors from the Asian country had made inquiries about Zimbabwe’s economic policies with a view of investing in the country especially in the manufacturing and agriculture sectors.

“Zimbabwe is facing an economic challenge and we have to find a remedy so that we are comfortable to have Japanese companies come and see with their eyes so that they appreciate what is on the ground before they make any decision to invest in the country,” said Mr Hiraishi.

“We would like to find ways to improve the economic ties between Zimbabwe and Japan. The Japanese are interested in investing in the field of agriculture, water supply and many other sectors,” he said.

Mr Hiraishi said Japan had expressed readiness to increase trade relations with Zimbabwe, but urged the Government to fully engage all stakeholders and the international community in order to find common ground to the problems facing the country.

“We need clarity, transparency and consistency in policy implementation. We need to see what that Government of Zimbabwe is going to do in relation to economic policies to attract Foreign Direct Investment.

“Our economic co-operation had stopped for some years for various reasons and now we are finding ways. I would like to see Japanese overseas volunteers sent to Zimbabwe to help in various fields,” said Mr Hiraishi.

Official development assistance from Japan to Zimbabwe in the past five years amounted to US$76 million.
Zimbabwe imports used Japanese cars as they are cheaper than those assembled locally.

The influx of imported second-hand vehicles from Japan has reportedly eased unemployment as a significant number of unemployed people import and sell vehicle parts and accessories, while others have learnt the art of mechanics and auto electronics.

According to the Zimbabwe National Statistics Agency the Government has immensely benefited from import duty which grossed $250 million from 206 519 vehicles purchased between January and November 2013.

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