Opinion / Columnist
Obama's USA salivating for investment in Zimbabwe
08 Aug 2014 at 13:16hrs | Views
The United States of America (USA) imposed illegal sanctions on Zimbabwe using the unjust law dubbed, Zimbabwe Democracy and Economic Recovery Act (ZIDERA) of 2001. Since then this act proved to be a gun which back-fired as USA lost vast business opportunities in this country. This paved way for its global competitors in the East to tap the unlimited openings for investment.
Recently the European Union (EU) which had imposed similar economic sanctions eased their stance after discovering the same. At a function held in Harare on July 25 where there was a launch for Zimbabwe European Union Business Information centre (Zim-EBIC), the EU Ambassador, Aldo Dell'Ariccia declared that the EU block was now open to do all forms of business ventures and transactions with Zimbabwe.
In view of all these developments, USA fills self-maligned as its allies have decided to leave them in the fantastical wilderness of treating Zimbabwe as a pariah state. We are all anxiously awaiting for the official pronouncement on the final lift of sanctions by the EU on November 1, 2014.
To join the bandwagon of investment rush in Zimbabwe, the US Harare Embassy Charge d'Affaires, a.i. David W. Abell, nicodimously wrote a letter to executives for American firms, urging them to establish business linkages with Zimbabwe given the country's impressive resource base, both human and material. He stated that Zimbabwe's economic recovery offers significant potential for lucrative trade, joint venture, and investment opportunities for American business in a variety of sectors.
According to Abell, Zimbabwe offers fertile land, and a variety of climates suitable for cultivating specialized spices, and an array of commodity crops for local, regional, and international markets. In addition the country has been recognized as a leader in mining with some large reserves of gold, platinum and diamonds as well as sizeable deposits of coal, chrome ore, and rare earth minerals.
Abell, however, made it clear that the current economic recovery provides widespread opportunities for American exports, and joint ventures as companies restructure and recapitalize their physical plant, and opportunities in the tourism and hospitality sector are endless.
Furthermore, Abell alluded to the fact that, Zimbabwe's growing middle class is an eager customer base for American products, and therefore, opportunities abound for US business engagement, sales, distribution arrangement and investment in Zimbabwe.
"The role of the US dollar as legal tender effectively eliminates foreign exchange risk. Business leaders from across the globe are increasingly focusing on the largely untapped opportunities available in Zimbabwe. I strongly encourage your company to visit Zimbabwe and see the opportunities for yourself. Do your research and develop contacts now to make informed decision on when and how your firm and Zimbabwe partners can work together for mutual benefit," Abell wrote.
This week United States president Barack Obama was taken to task over the illegal sanctions that his country imposed on this country by Takunda Chingozho, a Zimbabwean student at the US-Africa Business Forum in Washington, forcing him to admit openly that his country's illegal economic sanctions regime was hurting ordinary people and needed to be reviewed.
The ZIDERA enabled sanctions signed by former US President, George W Bush in December 2001, cut off Zimbabwe's lines of credit from all multilateral lending institutions from dealings with the US. Obama however, lamented that the US was in a quandary to balance the sanctions to ensure that they did not hurt ordinary people. While at the same time his Government is putting covert effort in their desperate moves to re-engage Zimbabwe in business.
------------------
Suitable Kajau can be contacted at kajausuitable@gmail.com
Recently the European Union (EU) which had imposed similar economic sanctions eased their stance after discovering the same. At a function held in Harare on July 25 where there was a launch for Zimbabwe European Union Business Information centre (Zim-EBIC), the EU Ambassador, Aldo Dell'Ariccia declared that the EU block was now open to do all forms of business ventures and transactions with Zimbabwe.
In view of all these developments, USA fills self-maligned as its allies have decided to leave them in the fantastical wilderness of treating Zimbabwe as a pariah state. We are all anxiously awaiting for the official pronouncement on the final lift of sanctions by the EU on November 1, 2014.
To join the bandwagon of investment rush in Zimbabwe, the US Harare Embassy Charge d'Affaires, a.i. David W. Abell, nicodimously wrote a letter to executives for American firms, urging them to establish business linkages with Zimbabwe given the country's impressive resource base, both human and material. He stated that Zimbabwe's economic recovery offers significant potential for lucrative trade, joint venture, and investment opportunities for American business in a variety of sectors.
According to Abell, Zimbabwe offers fertile land, and a variety of climates suitable for cultivating specialized spices, and an array of commodity crops for local, regional, and international markets. In addition the country has been recognized as a leader in mining with some large reserves of gold, platinum and diamonds as well as sizeable deposits of coal, chrome ore, and rare earth minerals.
Abell, however, made it clear that the current economic recovery provides widespread opportunities for American exports, and joint ventures as companies restructure and recapitalize their physical plant, and opportunities in the tourism and hospitality sector are endless.
Furthermore, Abell alluded to the fact that, Zimbabwe's growing middle class is an eager customer base for American products, and therefore, opportunities abound for US business engagement, sales, distribution arrangement and investment in Zimbabwe.
"The role of the US dollar as legal tender effectively eliminates foreign exchange risk. Business leaders from across the globe are increasingly focusing on the largely untapped opportunities available in Zimbabwe. I strongly encourage your company to visit Zimbabwe and see the opportunities for yourself. Do your research and develop contacts now to make informed decision on when and how your firm and Zimbabwe partners can work together for mutual benefit," Abell wrote.
This week United States president Barack Obama was taken to task over the illegal sanctions that his country imposed on this country by Takunda Chingozho, a Zimbabwean student at the US-Africa Business Forum in Washington, forcing him to admit openly that his country's illegal economic sanctions regime was hurting ordinary people and needed to be reviewed.
The ZIDERA enabled sanctions signed by former US President, George W Bush in December 2001, cut off Zimbabwe's lines of credit from all multilateral lending institutions from dealings with the US. Obama however, lamented that the US was in a quandary to balance the sanctions to ensure that they did not hurt ordinary people. While at the same time his Government is putting covert effort in their desperate moves to re-engage Zimbabwe in business.
------------------
Suitable Kajau can be contacted at kajausuitable@gmail.com
Source - Suitable Kajau
All articles and letters published on Bulawayo24 have been independently written by members of Bulawayo24's community. The views of users published on Bulawayo24 are therefore their own and do not necessarily represent the views of Bulawayo24. Bulawayo24 editors also reserve the right to edit or delete any and all comments received.
