Business / Local
Investors urged to exploit city's infrastructure
28 Apr 2016 at 06:57hrs | Views
BULAWAYO Mayor Councillor Martin Moyo has called on investors to engage in joint partnerships with local ailing companies as they have the infrastructure, which is convenient for businesses.
Clr Moyo was speaking on Tuesday night during a reception hosted for ZITF exhibitors at the Large City Hall.
He said the city has vast investment opportunities coupled with good infrastructure, which investors should take advantage of.
"The city's infrastructure still stands and it's in a very sound state thanks to the initiatives and proactive programmes undertaken by the responsible department and the various council partners," said Clr Moyo.
"After the demise of our economy, quite a number of industries closed down due to financial stress. They remain vacant shells and therefore offer plenty accommodation for joint venture options."
Clr Moyo said the country's economy was showing signs of recovery and investors should take advantage of that.
"Looking at the broad macro-economic environment, I must express my appreciation at the very positive developments that are evident in the operation of our industries. Not only are we witnessing a gradual revival of the manufacturing sector, in some cases there's increased production and possibilities for expansion," he said.
Clr Moyo cited United Refineries and Archer Paramount Garments as some of the success stories of Bulawayo.
The Mayor said the city had opportunities for investment in the hospitality industry, heavy engineering, textiles, leather industries and infrastructural development.
Clr Moyo said investors should also be assured that their investments will be secure as President Robert Mugabe has clarified all the grey areas in the Indigenisation Act.
"Many of our foreign exhibitors are very wary of our indigenisation laws. The President has been very clear in allaying any fears in that respect," he said.
Clr Moyo said Bulawayo was keen on investment as this creates employment and reduces poverty.
He also told exhibitors that they should also interact with locals and try to understand their culture instead of confining themselves to the trade fair.
Clr Moyo was speaking on Tuesday night during a reception hosted for ZITF exhibitors at the Large City Hall.
He said the city has vast investment opportunities coupled with good infrastructure, which investors should take advantage of.
"The city's infrastructure still stands and it's in a very sound state thanks to the initiatives and proactive programmes undertaken by the responsible department and the various council partners," said Clr Moyo.
"After the demise of our economy, quite a number of industries closed down due to financial stress. They remain vacant shells and therefore offer plenty accommodation for joint venture options."
Clr Moyo said the country's economy was showing signs of recovery and investors should take advantage of that.
Clr Moyo cited United Refineries and Archer Paramount Garments as some of the success stories of Bulawayo.
The Mayor said the city had opportunities for investment in the hospitality industry, heavy engineering, textiles, leather industries and infrastructural development.
Clr Moyo said investors should also be assured that their investments will be secure as President Robert Mugabe has clarified all the grey areas in the Indigenisation Act.
"Many of our foreign exhibitors are very wary of our indigenisation laws. The President has been very clear in allaying any fears in that respect," he said.
Clr Moyo said Bulawayo was keen on investment as this creates employment and reduces poverty.
He also told exhibitors that they should also interact with locals and try to understand their culture instead of confining themselves to the trade fair.
Source - chronicle
