Zimbabwe has removed barriers to trade, says Chiwenga

Zimbabwe has undertaken significant reforms to position itself as a competitive investment destination, Vice President Dr. Constantino Chiwenga said at the Third Edition of the Iran-Africa Economic Conference. The event, aimed at deepening cooperation between Tehran and African nations, provided a platform for discussions on economic growth and collaboration.

Earlier, VP Chiwenga held talks with Iranian President Mosoud Pezeshkian, underscoring Zimbabwe's commitment to strengthening ties with Iran and improving its business environment for foreign investors.

In his address, VP Chiwenga highlighted the reforms that have been implemented to ensure that Zimbabwe is an attractive investment hub. These efforts are part of President Emmerson Mnangagwa's broader strategy, which includes the "Zimbabwe is Open for Business" initiative and the Engagement and Re-engagement thrust.

"My country thrives under the policy, ‘Zimbabwe is Open for Business'. Let me assure you that several Ease of Doing Business reforms have been implemented to make Zimbabwe a top-tier, competitive investment destination," Chiwenga stated.

A key development in Zimbabwe's investment landscape is the establishment of the One Stop Investment Services Centre under the Zimbabwe Investment and Development Agency. The Centre aims to streamline the investment process, offering a user-friendly online interface that ensures investors' needs are met within 24 hours, facilitating ease of operation from anywhere at any time.

VP Chiwenga invited Iranian businesses to explore investment opportunities in key sectors such as mining, agriculture, energy, health, tourism, and manufacturing. He emphasized the importance of collaboration, particularly in the exchange of knowledge and technology, as a means of advancing mutual interests.

Furthermore, the Vice President expressed the need to remove trade barriers between African nations and Iran to enhance the flow of investments and trade. "As we seek to strengthen this partnership, let us continue to explore innovative and resilient ways to address challenges hindering the smooth flow of trade and investment between Africa and Iran," he urged.

VP Chiwenga reiterated that Zimbabwe remains "open for business" with the global community and actively encourages Iranian investors to explore the country's expanding investment and tourism opportunities.

The Vice President also noted that the Iran-Africa Economic Conference reflects the growing recognition of the potential benefits of stronger ties between the regions. "Although we are distinct in many ways, together we share common goals and values that form a solid foundation for collaboration. Both regions are characterized by vibrant young populations, rapidly growing economies, and an inherent resilience that has guided them through historical and contemporary challenges."

In addition, VP Chiwenga highlighted the opportunities presented by Africa's emerging markets, particularly through the African Continental Free Trade Area (AfCFTA), which unifies the continent into a single market with 1.4 billion people and a combined GDP of US$2.4 trillion. "This initiative provides the motivation for Iranian investors to capitalise on the economies of scale to invest in Africa," he said.

The Vice President concluded by reiterating that African countries are committed to expanding their cordial relations with Iran, furthering mutual benefits for both regions.