eBusiness Weekly
HARARE – China is impressed by the work that the Zimbabwean government has done in the short time that it has been in office which has seen the country receiving massive investment commitments from investors eager to participate in the economy.
Since the advent of the new administration, wholesome changes have taken place on the economic front in line with President Emmerson Mnangagwa’s message that Zimbabwe was open for business.
From November last year, when the new government came into office, investment commitments have reached at least $16 billion in different sectors such as mining and agriculture.
Swift reforms to improve the country’s investment climate are being implemented, including toning down the indigenisation law by making it only applicable to investments made in platinum and diamond mining.
President Mnangagwa’s government has also managed to unlock funding for crucial infrastructure projects from China, including the $1.5 billion for the Hwange power station expansion, which had been frozen as Beijing became reluctant to continue funding the previous government.
Harare has also begun taking steps to re-integrate with the global community, following years of isolation.
Chinese ambassador to Zimbabwe Huang Ping said President Mnangagwa’s government was on the right course.
“Great changes have taken place in the past several months in the new dispensation led by His Excellency President Mnangagwa,” he said in remarks at a ground-breaking ceremony for the upgrade of the Robert Gabriel Mugabe International Airport.
“With the mantra “Zimbabwe is open for business” international investors, businessmen, scholars, tourists as well as top officials from all over the world are coming to Harare the centre and heart of Zimbabwe.”
Several observers have also expressed their admiration for the new government’s agenda especially the promises to undertake economic reforms, highlighting that these should be followed through to attract investors. – New Ziana
