500 new Chinese businesses registered in Zimbabwe this year alone

Close to 500 new Chinese businesses have been registered in Zimbabwe this year alone, with projected investments of about US$2,5 billion, further cementing China's position as the country's largest source of foreign direct investment.

The figures were revealed by Chinese Ambassador to Zimbabwe, Zhou Ding, during the 2025 Zimbabwe National Chamber of Commerce (ZNCC) Business Review Conference held in Harare. The conference, attended by policymakers, industry leaders and commerce experts, ran under the theme "Unlocking Business Potential through Policy, Partnership, and Productivity".

Ambassador Zhou said Zimbabwe's ongoing economic transformation, improved Government–business dialogue and deepening bilateral ties with China have encouraged a growing number of Chinese enterprises to invest in the country. Many of these companies are already members of the ZNCC and are keen to expand their footprint and contribution to the local economy.

"China remains Zimbabwe's largest source of foreign investment. According to the Zimbabwe Investment and Development Agency, close to 500 new Chinese businesses have registered in Zimbabwe since January, with projected investments totalling US$2,5 billion," Zhou said.

He noted that more than one-third of the new investments are in the manufacturing sector, underscoring China's support for Zimbabwe's value addition, beneficiation and industrialisation agenda.

Among the flagship projects cited were the US$1,5 billion Dinson Iron and Steel Company in Midlands province and Prospect Lithium Zimbabwe in Mashonaland East, home to the country's first lithium sulphate plant. Zhou said additional large-scale investments, including cement and fertiliser manufacturing plants, are being established in Masvingo, Manicaland and other parts of the country, creating jobs, producing key inputs and contributing to tax revenues.

China is also playing a growing role in Zimbabwe's transition to renewable energy. Ambassador Zhou said several Chinese-backed solar power projects currently under construction are expected to add more than 1 000 megawatts of installed capacity by 2028.

On trade, he said tobacco contract farming and exports to China, valued at nearly US$800 million, support the livelihoods of around half a million Zimbabweans. He added that Zimbabwean citrus, blueberries and avocados are increasingly targeting the Chinese market.

To further boost trade, Zhou highlighted China's decision to grant zero-tariff treatment to all exports from 53 African countries, including Zimbabwe.

"This policy is a game changer. It will substantially expand access for Zimbabwean products to the Chinese market, promote local industrial growth and stimulate job creation," he said, adding that both countries are working to implement the initiative.

Zhou said the timing of the ZNCC conference was significant, coming as China prepares its 15th Five-Year Plan for 2026–2030 while Zimbabwe rolls out its National Development Strategy 2.

"The strong alignment between these visions will present enormous opportunities for Zimbabwe and for our ZNCC members," he said.

He noted that during China's 14th Five-Year Plan and Zimbabwe's NDS1, bilateral trade doubled from US$1,9 billion in 2021 to US$3,8 billion in 2024, while more than 1 400 Chinese investors have registered businesses in Zimbabwe since 2021.

Major projects completed during this period include the expansion of Hwange Power Station Units 7 and 8, the upgrading of Robert Gabriel Mugabe International Airport, the NetOne National Broadband Phase III project, the New Parliament Building and the National Pharmaceutical Warehouse.

Looking ahead, Zhou said China anticipates even stronger cooperation over the next five years, particularly in infrastructure development, power generation, digital transformation and economic resilience.

He reaffirmed the Chinese Embassy's commitment to supporting Zimbabwe through training programmes, scholarships and vocational education partnerships, while also facilitating lawful and efficient operations of Chinese enterprises.

China and Zimbabwe, Zhou said, remain longstanding partners whose relationship dates back to the liberation struggle, a friendship he said continues to underpin growing economic cooperation today.