Business / Economy
Chiwenga Calls for Indian Investment
17 Oct 2024 at 07:20hrs | Views
Zimbabwe's Vice President, General (Retired) Constantino G. D. N. Chiwenga, has invited potential Indian investors to capitalize on the strong bilateral relations between Zimbabwe and India, encouraging them to boost trade, commerce, and investment. Indian Ambassador to Zimbabwe, Bramha Kumar, confirmed this following a meeting at the Vice President's Munhumutapa offices on Wednesday.
In a statement issued after the meeting, Ambassador Kumar highlighted that Vice President Chiwenga emphasized the historical cultural and trade connections between the two nations, which have fostered close ties.
"During the meeting, the Honourable Vice President recalled centuries-old cultural and trade connections between the two countries, underpinned by significant people-to-people interactions. He stressed that now is the ideal time to translate these strong ties into robust trade, commerce, and investment relations," said Ambassador Kumar.
Chiwenga further reiterated that all sectors of Zimbabwe's economy are open to investment and urged Indian investors to seize the opportunity. He also emphasized the importance of enhancing bilateral trade between the two countries.
Meanwhile, Ambassador Kumar acknowledged Zimbabwe's continued support for India on various international and multilateral issues of mutual interest. He expressed India’s eagerness to collaborate with Zimbabwe to elevate bilateral trade, commerce, and investment to new heights.
"Indian investment in Zimbabwe is estimated at around US$600 million, providing employment for more than 5,000 locals," noted Kumar.
The Ambassador also highlighted ongoing educational cooperation under the Indian Technical and Economic Cooperation (ITEC) programme, which has offered over 270 scholarships to Zimbabwe. He further mentioned the 17 Indo-Zim Technology Centres established in Zimbabwe with grants from the Indian government.
A high-level Indian business delegation, led by the Confederation of Indian Industry, is expected to arrive in Harare on Monday, October 21, 2024. The Indian Embassy will organize meetings between the delegation, local businesses, government ministers, and officials to explore potential business opportunities.
In a statement issued after the meeting, Ambassador Kumar highlighted that Vice President Chiwenga emphasized the historical cultural and trade connections between the two nations, which have fostered close ties.
"During the meeting, the Honourable Vice President recalled centuries-old cultural and trade connections between the two countries, underpinned by significant people-to-people interactions. He stressed that now is the ideal time to translate these strong ties into robust trade, commerce, and investment relations," said Ambassador Kumar.
Chiwenga further reiterated that all sectors of Zimbabwe's economy are open to investment and urged Indian investors to seize the opportunity. He also emphasized the importance of enhancing bilateral trade between the two countries.
Meanwhile, Ambassador Kumar acknowledged Zimbabwe's continued support for India on various international and multilateral issues of mutual interest. He expressed India’s eagerness to collaborate with Zimbabwe to elevate bilateral trade, commerce, and investment to new heights.
"Indian investment in Zimbabwe is estimated at around US$600 million, providing employment for more than 5,000 locals," noted Kumar.
The Ambassador also highlighted ongoing educational cooperation under the Indian Technical and Economic Cooperation (ITEC) programme, which has offered over 270 scholarships to Zimbabwe. He further mentioned the 17 Indo-Zim Technology Centres established in Zimbabwe with grants from the Indian government.
A high-level Indian business delegation, led by the Confederation of Indian Industry, is expected to arrive in Harare on Monday, October 21, 2024. The Indian Embassy will organize meetings between the delegation, local businesses, government ministers, and officials to explore potential business opportunities.
Source - Byo24News
