Business / International
India charms Zim SMEs, collaboration bears fruits
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Representatives from Zimbabwe Chamber of Small to Medium-Sized Enterprises (SMEs) delegation currently attending the 11th edition of Saurashtra Vepar Udyog Mahamandal (SUVM) international trade show have expressed gratitude over collaborative network and investment opportunities established with India, describing the engagement as complementary mechanism for realisation of an upper-middle income economy by 2030.
Speaking during a telephone interview whilst in India, Chiredzi Chamber of SMEs secretary general, Valencio Kurauone has commended that some memorandum of agreements signed create economic opportunities for the country.
"This international trade show has the greatest capacity to bring together the SMEs sector, whilst widening opportunities for penetration into global markets. We also met people from other countries in the world and we are going to sign Memorandum of Understanding with them," Kurauone said.
"As you know that SMEs form the backbone of Zimbabwean economy and to achieve that, its (SMEs) growth is critical since this cut on import bill through value-addition, beneficiation and manufacturing. It also facilitates the formalisation of our SMEs sector since we will be selling our merchandise and services internationally on the global markets," Kurauone added.
"Speaking for Chiredzi SMEs, we are looking at small sugar cane crushers to make sugarcane (Nzimbe Juice) juice and another big machine that can crush 600,000 tones per day," Kurauone said.
"This platform has also enabled SMEs to tap from global makers of related products which enable them to embrace technology and digital marketing," Kurauone noted.
Meanwhile, speaking during an interview (then), Indian Ambassador to Zimbabwe, His Excellency Bramha Kumar reaffirmed his country's dedication to strengthening bilateral ties with Zimbabwe.
Bramha Kumar, has also pledged co-operation in crucial sectors such as food security, defence, agriculture, infrastructure, healthcare and power generation.
"The Indian private sector has already made good investments, amounting to approximately US$600 million, in sectors like food processing, beverages, mining, textiles, agricultural equipment and polymers, among others and it is on an upward trajectory. Indian investors employ some 5 000 people in Zimbabwe," Ambassador Bramha Kumar said.
"Similarly, the number of Indian companies operating in Zimbabwe is rising steadily and gradually. Further investments from India will directly benefit Zimbabwean youths that will be trained and employed by Indian companies," Ambassador Kumar said.
Zimbabwe has a lot of potential to attract foreign direct investment from all over the world despite the economic challenges the country is experiencing.
The Government has been on a phenomenal international re-engagement drive and has declared that Zimbabwe is open for business.
Investors have responded positively to the policy, hence many of them have been visiting the country to explore possible investment opportunities in different sectors of the economy such as mining, agriculture and manufacturing.
The ongoing SUVM international trade comes at a time smallholder farmers, small-to-medium enterprises, women and youth accounted for the bulk of the economically active population but were significantly financially excluded.
Speaking during a telephone interview whilst in India, Chiredzi Chamber of SMEs secretary general, Valencio Kurauone has commended that some memorandum of agreements signed create economic opportunities for the country.
"This international trade show has the greatest capacity to bring together the SMEs sector, whilst widening opportunities for penetration into global markets. We also met people from other countries in the world and we are going to sign Memorandum of Understanding with them," Kurauone said.
"As you know that SMEs form the backbone of Zimbabwean economy and to achieve that, its (SMEs) growth is critical since this cut on import bill through value-addition, beneficiation and manufacturing. It also facilitates the formalisation of our SMEs sector since we will be selling our merchandise and services internationally on the global markets," Kurauone added.
"Speaking for Chiredzi SMEs, we are looking at small sugar cane crushers to make sugarcane (Nzimbe Juice) juice and another big machine that can crush 600,000 tones per day," Kurauone said.
"This platform has also enabled SMEs to tap from global makers of related products which enable them to embrace technology and digital marketing," Kurauone noted.
Meanwhile, speaking during an interview (then), Indian Ambassador to Zimbabwe, His Excellency Bramha Kumar reaffirmed his country's dedication to strengthening bilateral ties with Zimbabwe.
Bramha Kumar, has also pledged co-operation in crucial sectors such as food security, defence, agriculture, infrastructure, healthcare and power generation.
"The Indian private sector has already made good investments, amounting to approximately US$600 million, in sectors like food processing, beverages, mining, textiles, agricultural equipment and polymers, among others and it is on an upward trajectory. Indian investors employ some 5 000 people in Zimbabwe," Ambassador Bramha Kumar said.
"Similarly, the number of Indian companies operating in Zimbabwe is rising steadily and gradually. Further investments from India will directly benefit Zimbabwean youths that will be trained and employed by Indian companies," Ambassador Kumar said.
Zimbabwe has a lot of potential to attract foreign direct investment from all over the world despite the economic challenges the country is experiencing.
The Government has been on a phenomenal international re-engagement drive and has declared that Zimbabwe is open for business.
Investors have responded positively to the policy, hence many of them have been visiting the country to explore possible investment opportunities in different sectors of the economy such as mining, agriculture and manufacturing.
The ongoing SUVM international trade comes at a time smallholder farmers, small-to-medium enterprises, women and youth accounted for the bulk of the economically active population but were significantly financially excluded.
Source - Byo24News
