Opinion / Columnist
Government's Look East Policy bears fruit
06 Jun 2014 at 10:30hrs | Views
For a long time, the relationship that exists between Zimbabwe and China has largely been political, stemming from China's assistance during the liberation struggle.
With the passing of time, the relationship between Zimbabwe and China has permeated all sectors with the focus now being on economic cooperation.
The Government adopted a Look-East policy in an effort to revive the nation's economy and this approach continues to bear fruit.
China's contributions to Zimbabwe are most visible in sectors such as agriculture, mining, and infrastructural development, among others.
Apart from these sectors, China has been extending millions of dollars in grants and loans to Zimbabwe.
Recently, a Chinese company, Xuzhou Construction Machinery Group, offered a 100 million USD credit facility to small scale miners in the country.
If this loan is channelled directly to the intended beneficiaries, the country's economy will be lifted to greater heights thereby, creating more job opportunities.
This constructive move by the Chinese company should be applauded as it will go a long way in strengthening the economy.
For Zim-Asset to be successful, such financial injections are needed to fund projects.
While addressing journalists at the loan signing ceremony, Mines and Mining Development Minister, Walter Chidhakwa, articulated that the aid will boost the activities of the small scale miners which is in line with Zim-Asset.
"This was in recognition that the small scale mining sector plays a critical role, not just in the development of various minerals, but also plays a critical role in distribution of income," he said.
It is also imperative to note that once the country's economy is enhanced, our internal market will definitely boost thereby extending the global trends in trading as well as development issues.
Xuzhou Construction Machinery Group chairman, Wang Yan Song,said he was pleased to be doing business with Zimbabwe and assisting the mining sector.
"We are happy to support Zimbabwe build its mining sector as mining is the backbone of the country's economy." he said.
China has proved to be a consistent all-weather friend to Zimbabwe, which puts to shame critics of the Look-East policy.
With the passing of time, the relationship between Zimbabwe and China has permeated all sectors with the focus now being on economic cooperation.
The Government adopted a Look-East policy in an effort to revive the nation's economy and this approach continues to bear fruit.
China's contributions to Zimbabwe are most visible in sectors such as agriculture, mining, and infrastructural development, among others.
Apart from these sectors, China has been extending millions of dollars in grants and loans to Zimbabwe.
Recently, a Chinese company, Xuzhou Construction Machinery Group, offered a 100 million USD credit facility to small scale miners in the country.
If this loan is channelled directly to the intended beneficiaries, the country's economy will be lifted to greater heights thereby, creating more job opportunities.
For Zim-Asset to be successful, such financial injections are needed to fund projects.
While addressing journalists at the loan signing ceremony, Mines and Mining Development Minister, Walter Chidhakwa, articulated that the aid will boost the activities of the small scale miners which is in line with Zim-Asset.
"This was in recognition that the small scale mining sector plays a critical role, not just in the development of various minerals, but also plays a critical role in distribution of income," he said.
It is also imperative to note that once the country's economy is enhanced, our internal market will definitely boost thereby extending the global trends in trading as well as development issues.
Xuzhou Construction Machinery Group chairman, Wang Yan Song,said he was pleased to be doing business with Zimbabwe and assisting the mining sector.
"We are happy to support Zimbabwe build its mining sector as mining is the backbone of the country's economy." he said.
China has proved to be a consistent all-weather friend to Zimbabwe, which puts to shame critics of the Look-East policy.
Source - Peacemaker Zano
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