News / National
Zimbabwe lures Russian investors
08 Jun 2017 at 06:52hrs | Views
RUSSIAN investors are keen to co-operate with Zimbabwe in its re-industrialisation process and economic revival through increased investments in the country, Industry and Commerce Minister Dr Mike Bimha has said.
The minister said the just ended St Petersburg International Economic Forum in Russia, where he was part of a delegation led by Vice President Phelekezela Mphoko last week, created huge opportunities and benefits for Zimbabwe.
"Our participation at the forum gave us an indication that Russia wants to engage more with us. The forum was more of an exercise by the Russians to reach out. They do have opportunities but they also believe there are opportunities in other countries," said Dr Bimha in an interview.
"Our discussions looked at the factors that caused de-industrialisation in Zimbabwe and what we need to do to re-industrialise. Russia is keen to co-operate with us in that area."
The minister attended the forum alongside ministers Patrick Chinamasa (Finance and Economic Development) and Walter Chidhakwa (Mines and Mining Development) and representatives from the business community.
The high ranking forum was meant to get countries together and in the process make them improve trade between each other.
Dr Bimha said the major highlight of all the meetings was their meeting with Russia's Minister of Industry and Trade, Mr Denis Manturov.
"Apart from being Russia's Minister of Industry and Commerce, Mr Manturov is a special envoy on matters to do with investments in Zimbabwe. In our meeting with him we covered a number of areas including mining, manufacturing, tourism and agriculture with more focus on agro processing.
"They are keen to engage our private sector and they are also keen to engage ZimTrade to know what Zimbabwe can produce so that they can link up with a similar organisation in Russia," said Dr Bimha.
He said Zimbabwe has been invited to a major expo in Russia next month, where the country is hoping to further strengthen its economic ties with Russia.
"The expo is more like a trade fair Russia. We are one of the few African countries that have been invited and I am going to make a presentation on the opportunities in Zimbabwe.
"A number of Russian private players will take part in the expo. We are looking forward to getting more of our CZI, ZNCC, Chamber of Mines and other business associations and relevant Government departments to link up with similar associations in Russia," said Dr Bimha.
The minister said Russians were more interested in fertiliser production and glass manufacturing.
"What we are talking about is more of joint ventures or green-field operations. There is a growing interest by Russia in terms of investing in Africa but obviously they have to build in those countries where they already have traditional linkages in terms of political co-operation and I think as Zimbabwe we have that kind of relationship with Russia," said Dr Bimha.
The minister said the just ended St Petersburg International Economic Forum in Russia, where he was part of a delegation led by Vice President Phelekezela Mphoko last week, created huge opportunities and benefits for Zimbabwe.
"Our participation at the forum gave us an indication that Russia wants to engage more with us. The forum was more of an exercise by the Russians to reach out. They do have opportunities but they also believe there are opportunities in other countries," said Dr Bimha in an interview.
"Our discussions looked at the factors that caused de-industrialisation in Zimbabwe and what we need to do to re-industrialise. Russia is keen to co-operate with us in that area."
The minister attended the forum alongside ministers Patrick Chinamasa (Finance and Economic Development) and Walter Chidhakwa (Mines and Mining Development) and representatives from the business community.
The high ranking forum was meant to get countries together and in the process make them improve trade between each other.
Dr Bimha said the major highlight of all the meetings was their meeting with Russia's Minister of Industry and Trade, Mr Denis Manturov.
"Apart from being Russia's Minister of Industry and Commerce, Mr Manturov is a special envoy on matters to do with investments in Zimbabwe. In our meeting with him we covered a number of areas including mining, manufacturing, tourism and agriculture with more focus on agro processing.
"They are keen to engage our private sector and they are also keen to engage ZimTrade to know what Zimbabwe can produce so that they can link up with a similar organisation in Russia," said Dr Bimha.
He said Zimbabwe has been invited to a major expo in Russia next month, where the country is hoping to further strengthen its economic ties with Russia.
"The expo is more like a trade fair Russia. We are one of the few African countries that have been invited and I am going to make a presentation on the opportunities in Zimbabwe.
"A number of Russian private players will take part in the expo. We are looking forward to getting more of our CZI, ZNCC, Chamber of Mines and other business associations and relevant Government departments to link up with similar associations in Russia," said Dr Bimha.
The minister said Russians were more interested in fertiliser production and glass manufacturing.
"What we are talking about is more of joint ventures or green-field operations. There is a growing interest by Russia in terms of investing in Africa but obviously they have to build in those countries where they already have traditional linkages in terms of political co-operation and I think as Zimbabwe we have that kind of relationship with Russia," said Dr Bimha.
Source - chronicle
