Chinese firm eyes Zim investment

A TECHNICAL team from Chinese firm, Touchroad International Holdings Group, yesterday met Tourism and Hospitality Industry minister Priscah Mupfumira to expedite its intention to invest in the country.

BY FIDELITY MHLANGA

The visit cames after Mupfumira signed a $1,2 billion memorandum of understanding with the company last month.

Speaking to journalists yesterday, Division of Asian and African Affairs director in the Department of Foreign and Overseas Chinese Affairs, Shi Huazhong said the visit was geared towards exploring the market ahead of the visit by Chinese investors next month.

“In early April, the President (Emmerson Mnangagwa) visited China and met the party secretary and we had successful meetings and this time we are in Zimbabwe to fulfil the consensus between the president and our party secretary and we are the technical team for the forthcoming visit. We would like to explore the market and it’s our job to make the forthcoming visit more successful,” he said.

According to Huazhong, the company was interested in investing in key sectors of the economy such as infrastructure, agriculture, trade and commerce.

“We are targeting comprehensive investments not only in tourism, but also commerce and trade, infrastructure and agriculture. We are here to prepare for the forthcoming delegation and we have come with lots of businessmen, representatives of companies and it’s an opportunity and a platform for them to have a direct contact with local businessman here in Zimbabwe. We would love them to have more discussions to discover the market and opportunities that Zimbabwe has,” he said.

Touchroad is the first Chinese private enterprise to construct a special economic zone in Africa and has expressed interest to build a tourism city in the country reminiscent of that in South Africa.

The team was expected to meet Vice-President Constantino Chiwenga late yesterday.

Touchroad International Holdings is a privately-owned company, with its headquarters in Shanghai, and has business interests in a variety of sectors. The company has operations in more than 25 African countries, including Namibia and Djibouti.

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