100 Chinese firms to visit Zimbabwe

A HIGH-powered delegation from China, which includes representatives of more than 100 big Chinese companies, will be in the country next month to explore business and investment opportunities, an official has said.

President Mnangagwa's recent State visit to China has renewed international investment interest in the country. The Asian giant has steadily improved its economic ties with Africa under the Forum on China-Africa Co-operation and Zimbabwe is one of the countries targeted for deeper co-operation with China.

Confederations of Zimbabwe Industries (CZI) chief executive officer, Mr Clifford Sileya, said the proposed visit by the delegation would help cement bilateral ties and strengthen economic relations between the two countries.

"Communication has been received from the Ministry of Industry, Commerce and Enterprise Development advising of a Chinese Business Delegation visiting on 11 June 2018 as a follow-up to the mission by the State President early in the year," he said. "Over 100 Chinese business people are expected to attend this Business Forum; and are keen to do business with Zimbabwean companies in various sectors. Attendance is strictly by invitation and only companies with clear and specific areas of interest will be accommodated."

President Mnangagwa and President Xi managed to review the previous projects and look at the impediments that stalled progress in the past. The new comprehensive strategic partnership of co-operation agreed between the two leaders is expected to usher a new way of doing business.

Zimbabwe and China signed Memoranda of Understanding that will expedite the country's socio-economic recovery under the new dispensation. The Minister of Finance and Economic Development, Patrick Chinamasa, signed agreements on economic and technical co-operation between the Chinese government and Zimbabwe. China's Minister of Commerce signed on behalf of his government.

The Finance Minister also signed more agreements on food assistance, the supply of high performance computers Phase 2, and availability of experts from China in various fields and the drilling of an additional 500 boreholes in Zimbabwe.

A similar figure has already been drilled with assistance from China.

Foreign Affairs and Trade Minister Dr Sibusiso Moyo signed the Memorandum of Understanding on Human Resources Development on behalf of the Public Service Commission. These were signed before President Mnangagwa and his host President Xi Jinping at the Great Hall of the People in Beijing.