Zimbabwe seeks to cajole Rwandan investors into various sectors of the economy riding on an array of reforms undertaken to better the country’s investment climate at the on-going Zimbabwe-Rwanda Trade and Investment Conference in Harare.
Speaking at the conference this morning, President Emmerson Mnangagwa urged the Rwandan business delegation to take advantage of business opportunities lying abundantly in the country.
“My Government remains committed to creating an environment that is conducive for business while realizing the expansion of economic cooperation, trade and investment. We thus, stand ready to welcome investors and global capital from across all countries of the world,” said Mnangagwa.
Zimbabwe is looking forward to enhance investment inflows into the country which will be crucial in turning around its economic fortunes.
Trade and investment between the two countries have traditionally been underwhelming due to the absence of strong bilateral and economic ties.
To enhance investment inflows into the country, the Zimbabwe Investment and Development Agency (ZIDA) have been facilitating the processing of investment proposals including issuance of investment certificates, associated permits and licenses among other aspects.
Mnangagwa said his administration is seized with addressing areas that have in the past deterred investment such as guaranteeing security to investment and allowing smooth repatriation of profits as well as dividends and royalties.
“The cordial, fraternity and excellent relations between Rwanda and Zimbabwe should continue to spur growth of business across various sectors of the economy. We have the collective responsibility to shift the historical trend which was characterized by low trade volumes between our two friendly countries, despite the existence of huge potential,” said the President.
Running under the theme, “Explore, Invest, Export,” the conference seeks to strengthen economic ties between the two countries whose growth potential is yet to be fully exploited.
Also speaking at the conference, Minister of Lands, Agriculture, Water and Rural Resettlement, Dr Anxious Masuka urged Rwanda to invest in Zimbabwe because of its unique footprint in climate, it being a land linked state and having the ability to export, it’s multifarious crop production, cereal value chain, livestock mechanization and improved policy environment.
Mines and Mineral Development Minister Winston Chitando also told Rwanda investors to consider investing into the mining sector as only 10 out of over 60 minerals available are being actively extracted.