News / Local
Calls for foreign investors to boost Bulawayo industry
27 Apr 2012 at 15:31hrs | Views
The Zimbabwe National Chamber of Commerce (ZNCC) has urged foreign investors help resuscitate Bulawayo's distressed companies in Bulawayo.
Addressing a Zambia â€" Zimbabwe Business Forum at the Zimbabwe International Trade Fair (ZITF), ZNCC Matabeleland Vice â€" President, Sheila Sidambe said Bulawayo's manufacturing sector was operating at low capacity.
"Bulawayo is currently characterised by an ailing industry, its needs vary from company to company.Such targeted companies include those in the food processing, beverages, textile , clothing and footwear, fertiliser, pharmaceuticals, packaging, paper printing and publishing, chemical and petroleum products, non metallic mineral products, among others," she said.
"The sector is currently operating at reduced capacity, therefore increased capacity utilisation is necessary through investing in distressed existing companies."
Sidambe outlined the specific investment opportunities available for capital in Matabeleland as hospitality & tourism, mining and energy sector, agriculture and livestock development, infrastructure, Telecommunications and Transport as well as information and communication technology.
"Government estimates $1 billion is required to revive industry in the country's second largest city, Bulawayo," she said.
"The region has the potential to become an industrial and mining hub, coal reserves are hardly touched and the potential is massive."
Addressing a Zambia â€" Zimbabwe Business Forum at the Zimbabwe International Trade Fair (ZITF), ZNCC Matabeleland Vice â€" President, Sheila Sidambe said Bulawayo's manufacturing sector was operating at low capacity.
"Bulawayo is currently characterised by an ailing industry, its needs vary from company to company.Such targeted companies include those in the food processing, beverages, textile , clothing and footwear, fertiliser, pharmaceuticals, packaging, paper printing and publishing, chemical and petroleum products, non metallic mineral products, among others," she said.
"The sector is currently operating at reduced capacity, therefore increased capacity utilisation is necessary through investing in distressed existing companies."
Sidambe outlined the specific investment opportunities available for capital in Matabeleland as hospitality & tourism, mining and energy sector, agriculture and livestock development, infrastructure, Telecommunications and Transport as well as information and communication technology.
"Government estimates $1 billion is required to revive industry in the country's second largest city, Bulawayo," she said.
"The region has the potential to become an industrial and mining hub, coal reserves are hardly touched and the potential is massive."
Source - Byo24News
