India keen on Zimbabwe

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Embassy of India first secretary, Mukesh Kumar, yesterday said India was more than ready to invest in Zimbabwe as the country had potential to be one of the fastest growing economies on the continent.

Speaking during the Zimbabwe-India investment conference, Kumar said Zimbabwe should give businesspeople from his country an opportunity to showcase what they had to offer.

He said India could turn around the country’s economy within five years.

“India is more than willing to invest in Zimbabwe as today (yesterday) we are having discussions with Zimbabwean companies,” said Kumah.

Members of the delegation expressed interest in investing in agriculture, mining, infrastructure, defence, banking and finance and health.

“This delegation comprises of the Indian companies who first visited in September last year and other new Indian companies from various sectors,” said Kumah.

Economic Planning and Investment Promotion secretary Desire Sibanda said the visit by the delegation gave an indication of how much investment the country was likely to get from India.

“The visit by the Indians is a follow-up and shows we have managed to create a conducive working environment,” said Sibanda.

He said the visit was also an indication of strong economic relations between the two countries.

Sibanda said there were positive indications for the economy, as shown by the projected economic growth of 9,4% this year.

The Indian business delegation took the opportunity to seek clarity on the indigenisation and empowerment policy given the controversy surrounding the Essar-Ziscosteel deal.

Sibanda said the country had in the recent past implemented various policy reforms that included the Medium-Term Policy to help grow the economy.

“The government welcomes foreign direct investment and private players. Government stands ready to engage with investors in mining, manufacturing, agriculture, health, infrastructure development and many others,” said Sibanda.

He said the government was already taking step to engage investors as evidenced by the launch of the one-stop shop.