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Mnangagwa commends Chinese investors

by Staff reporter
24 Jun 2022 at 07:21hrs | Views
Zimbabwean President Emmerson Mnangagwa commended Chinese companies Thursday for their investment in the southern African nation.

Mnangagwa was speaking after touring the Gweru-based Sino-Zimbabwe Cement Company, which he commended for expanding its operations in Zimbabwe.

"I commend investors from the People's Republic of China, herein represented by Sino-Zimbabwe Cement Company for investing in Zimbabwe," he said.

Sino-Zimbabwe, currently operating at 90 percent capacity utilization, is the third-largest producer of cement in Zimbabwe.

"Your investments in not only cement manufacturing, but also in a brick manufacturing company which produces high-quality face bricks and tensile bricks, is commendable," Mnangagwa said.

He urged the company to continue taking advantage of the boom in Zimbabwe's construction industry to grow its business.

The Zimbabwean economy has transitioned from stabilization to growth and the government will continue to aggressively woo investors to boost economic growth, Mnangagwa said.

He said several sectors of the economy were experiencing growth, including the manufacturing sector whose capacity utilization continues to grow and now stands at 75 percent.

The growth in the manufacturing sector, partly driven by a stable macro-economic environment, has resulted in locally produced goods occupying 75 percent of shop shelves, in line with the "Made in Zimbabwe" and "Buy Zimbabwe" initiatives, Mnangagwa said.

Source - Xinhua