News / National
Mnangagwa appoints Tungwarara as UAE investment advisor
20 Nov 2024 at 06:45hrs | Views
President Emmerson Mnangagwa has appointed businessman Dr. Paul Tungwarara as the Special Presidential Investment Advisor to the United Arab Emirates (UAE), a role aimed at bolstering Zimbabwe's economic ties with the Gulf nation.
Dr. Tungwarara will report to the Minister of Foreign Affairs and International Trade, Professor Amon Murwira. According to the President's official statement, the appointment is for an initial renewable term of two years.
"I, Emmerson Dambudzo Mnangagwa, President of the Republic of Zimbabwe, by the powers vested in me by the Constitution of Zimbabwe Amendment (No. 20) Act 2013, do hereby appoint Tempter Paul Tungwarara Special Presidential Investment Advisor to the United Arab Emirates from the date of signature of these presents," the statement read.
The appointment authorises Dr. Tungwarara to engage in mutual discussions on behalf of the Government concerning investment opportunities, with full privileges and immunities accorded to his position.
Strengthening UAE-Zimbabwe Relations
Dr. Tungwarara has already demonstrated significant progress in positioning Zimbabwe as an attractive investment destination. Among his notable accomplishments is fostering interest from Mahomed Alabbar, the owner of the Burj Khalifa - the world's tallest building. Alabbar, a prominent Dubai businessman, has shown interest in developing luxury hotels in Zimbabwe.
Additionally, Dr. Tungwarara has initiated collaborations with PSI Real Estate, an affiliate of DAMAC, one of Dubai's leading luxury real estate developers, further enhancing prospects for high-profile investments.
Domestic Development Initiatives
Beyond his international engagements, Dr. Tungwarara is leading several Government-backed projects aimed at addressing pressing local needs and promoting sustainable development in Zimbabwe:
Presidential Borehole Scheme: Overseeing the installation of boreholes in rural communities to improve access to clean water.
Presidential Solar Scheme: Spearheading a solar energy initiative that involves installing rooftop solar panels at no cost to homeowners. The generated energy will feed into the national grid, helping reduce reliance on traditional power sources.
The solar scheme, currently piloted in Glen View, Harare, is poised to scale up nationwide as part of the country's energy transition efforts.
Boosting Economic Diplomacy
President Mnangagwa's appointment of Dr. Tungwarara highlights Zimbabwe's growing focus on economic diplomacy. By strengthening ties with influential partners in the UAE, the Government aims to attract foreign direct investment and drive transformative development projects.
Dr. Tungwarara's efforts are expected to play a pivotal role in advancing Zimbabwe's Vision 2030 agenda, which seeks to achieve upper-middle-income status through industrial growth and sustainable economic initiatives.
Dr. Tungwarara will report to the Minister of Foreign Affairs and International Trade, Professor Amon Murwira. According to the President's official statement, the appointment is for an initial renewable term of two years.
"I, Emmerson Dambudzo Mnangagwa, President of the Republic of Zimbabwe, by the powers vested in me by the Constitution of Zimbabwe Amendment (No. 20) Act 2013, do hereby appoint Tempter Paul Tungwarara Special Presidential Investment Advisor to the United Arab Emirates from the date of signature of these presents," the statement read.
The appointment authorises Dr. Tungwarara to engage in mutual discussions on behalf of the Government concerning investment opportunities, with full privileges and immunities accorded to his position.
Strengthening UAE-Zimbabwe Relations
Dr. Tungwarara has already demonstrated significant progress in positioning Zimbabwe as an attractive investment destination. Among his notable accomplishments is fostering interest from Mahomed Alabbar, the owner of the Burj Khalifa - the world's tallest building. Alabbar, a prominent Dubai businessman, has shown interest in developing luxury hotels in Zimbabwe.
Additionally, Dr. Tungwarara has initiated collaborations with PSI Real Estate, an affiliate of DAMAC, one of Dubai's leading luxury real estate developers, further enhancing prospects for high-profile investments.
Domestic Development Initiatives
Beyond his international engagements, Dr. Tungwarara is leading several Government-backed projects aimed at addressing pressing local needs and promoting sustainable development in Zimbabwe:
Presidential Borehole Scheme: Overseeing the installation of boreholes in rural communities to improve access to clean water.
Presidential Solar Scheme: Spearheading a solar energy initiative that involves installing rooftop solar panels at no cost to homeowners. The generated energy will feed into the national grid, helping reduce reliance on traditional power sources.
The solar scheme, currently piloted in Glen View, Harare, is poised to scale up nationwide as part of the country's energy transition efforts.
Boosting Economic Diplomacy
President Mnangagwa's appointment of Dr. Tungwarara highlights Zimbabwe's growing focus on economic diplomacy. By strengthening ties with influential partners in the UAE, the Government aims to attract foreign direct investment and drive transformative development projects.
Dr. Tungwarara's efforts are expected to play a pivotal role in advancing Zimbabwe's Vision 2030 agenda, which seeks to achieve upper-middle-income status through industrial growth and sustainable economic initiatives.
Source - The Herald
