Business / Companies
Shanghai Industrial Investments keen to invest in Zimbabwe
09 May 2011 at 15:22hrs | Views
Zimbabwe State media reports that a multi-billion dollar Chinese firm, Shanghai Industrial Investment Company, has expressed desire to explore investment opportunities in Zimbabwe.
The company said Zimbabwe offered innumerable opportunities for investment in various sectors and said it was interested in investing in the local economy.
It discovered the country's huge investment potential when its officials visited the Zimbabwe pavilion at last year's Shanghai Expo after which it did further research.
The company has made an undertaking to avail funding for investment in identified areas or at least in sectors that it feels have potential to offer good returns and are top priority.
Spokesperson Mr Prosper Gapor said the firm was interested in a variety of areas including bulk distribution of grocery, real estate, construction, property development, building materials and hardware equipment.
It was also interested in construction of low-cost and luxury residence, resort and hotel facilities, distribution of pharmaceutical products, and importation of tropical products, raw materials and minerals from Zimbabwe.
"We are interested in investing in your country in the financial sector, public works, infrastructure, mining and energy and in the areas of transport, agribusiness, agro-industry, agrifinance . . . and construction," said Mr Gapor.
Its scope of business also covers infrastructure facilities, information technology, financial investment, hotel and tourism, consumer products, commercial retail and motor parts.
At present, its total assets are worth HK$50 billion, which is 250 times more than at its value at inception.
Apart from exportation and products commercialisation in the country, the company said it would proceed to the importation of tropical medicinal plants for its pharmaceutical laboratories located in China and Hong Kong.
The Chinese group added that it would also consider other viable investment opportunities on the advice and recommendation of the Government.
If the company invests in Zimbabwe it would become one of a number of Chinese firms operating in the country, notably, cement maker Sino-Zimbabwe.
Zimbabwe and China enjoy excellent political ties, but while economic ties are growing steadily they are yet to match excellent ties at the political level.
Huge opportunities and trade investments exist between the two countries, which could be exploited for the benefit of the developing economies.
Further opportunities exist in the areas of information and communication technology, fixed and mobile telecommunications and manufacturing and beneficiation.
The company said Zimbabwe offered innumerable opportunities for investment in various sectors and said it was interested in investing in the local economy.
It discovered the country's huge investment potential when its officials visited the Zimbabwe pavilion at last year's Shanghai Expo after which it did further research.
The company has made an undertaking to avail funding for investment in identified areas or at least in sectors that it feels have potential to offer good returns and are top priority.
Spokesperson Mr Prosper Gapor said the firm was interested in a variety of areas including bulk distribution of grocery, real estate, construction, property development, building materials and hardware equipment.
It was also interested in construction of low-cost and luxury residence, resort and hotel facilities, distribution of pharmaceutical products, and importation of tropical products, raw materials and minerals from Zimbabwe.
"We are interested in investing in your country in the financial sector, public works, infrastructure, mining and energy and in the areas of transport, agribusiness, agro-industry, agrifinance . . . and construction," said Mr Gapor.
Its scope of business also covers infrastructure facilities, information technology, financial investment, hotel and tourism, consumer products, commercial retail and motor parts.
At present, its total assets are worth HK$50 billion, which is 250 times more than at its value at inception.
Apart from exportation and products commercialisation in the country, the company said it would proceed to the importation of tropical medicinal plants for its pharmaceutical laboratories located in China and Hong Kong.
The Chinese group added that it would also consider other viable investment opportunities on the advice and recommendation of the Government.
If the company invests in Zimbabwe it would become one of a number of Chinese firms operating in the country, notably, cement maker Sino-Zimbabwe.
Zimbabwe and China enjoy excellent political ties, but while economic ties are growing steadily they are yet to match excellent ties at the political level.
Huge opportunities and trade investments exist between the two countries, which could be exploited for the benefit of the developing economies.
Further opportunities exist in the areas of information and communication technology, fixed and mobile telecommunications and manufacturing and beneficiation.
Source - TNZ
