The Sunday News
Nqobizitha Dhlamini Business Reporter
GOVERNMENT has expressed satisfaction at the rate at which potential European investors have shown interest in investing in various sectors of the economy.
Industry and Commerce Minister Mike Bimha said it was encouraging that the Western countries were beginning to see and view Zimbabwe as a lucrative and safe investment destination.
The European Union recently lifted trade sanctions against Zimbabwe, a situation which has seen large contingents of business delegations from various European countries flocking into the country to explore a wide range of investment opportunities.
Business delegations from Netherlands, United Kingdom and Denmark have been in the country and have met various Government ministers and officials from the private sector.
This is the first time in 14 years that high powered business executives from Europe have taken time to visit Zimbabwe on a feasibility and assessment mission to ascertain the country’s political and economic situation.
“As a country we are open for investments and we are especially impressed with the role Government played to gain foreign investor confidence . . . Confidence is being realised as more potential investors are pouring into the country to assess the current situation,” Minister Bimha said.
He said these latest developments were in line with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation further arguing that improved relations with the West would culminate in the growth of the country’s economy.
“These investors will bring value addition to income generating sectors and this will go a long way in sustaining the economy,” he said.
The minister also said the Government was in the process of drafting and promoting policies that encourage good relations with investors as the country worked towards boosting the economy.
“There are investors from Netherlands who are interested in partnering with Small and Medium Enterprises in the country and they have the facilities to fund the SMEs.
“Local entrepreneurs also stand to benefit from these investments as they are partnering with other businesspeople from across the globe,” he said.
Minister Bimha said these investors would boost the country’s exports as well as generate the much needed foreign currency.
Small to Medium Enterprises and Co-operative Development Minister Cde Sithembiso Nyoni said the development would be a major boost to SMEs whose operations were being hampered by lack of funding.
“As SMEs we are very happy that investors have an interest in us and this will assist a lot of small businesses to progress from small to major holdings and this is exactly what the country needs for economic development,” she said.
Confederation of Zimbabwe Industries president Mr Charles Msipa said the interest by investors from the West to conduct business would correct the perception which most European countries had about Zimbabwe.
“Zimbabwe has had negative coverage in Europe and it is our hope that these delegates set the record straight in their respective countries and recommend the country as a favourable investment destination,” he said.
