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China pledges more investment support to Zim

Local News
Chinese Ambassador to Zimbabwe

MORE Chinese companies are expected to invest in Zimbabwe if high quality products are introduced, Chinese Ambassador to Zimbabwe Guo Shaochun said last Friday.

Addressing delegates in Harare at an investment forum, Guo said Chinese private investments have become a vital force to promote Zimbabwe’s economy.

He said some Chinese companies were already revitalizing idle resources in the country, and were actively investing in tobacco farming, building materials, the manufacturing sector and freight logistics.

“These investments are introducing Zimbabwe’s high-quality products into international markets, bringing considerable forex earnings and tax revenues, tens of thousands of job opportunities and technology transfers and they also promote Zimbabwe’s competitiveness in the global economy,” he said.

Guo said China and Zimbabwe are partners as they share a long tradition of mutual assistance in times of need.

“We have always worked jointly to oppose hegemony, power politics and unilateralism while upholding international fairness and justice.  Under the strategic guidance of the state leaders of the two countries and following the principles of sincerity, real results, amity and good faith, China has been supporting Zimbabwe to realize its national development.  Our two countries have enjoyed ever-growing excellent relations and sound bilateral cooperation across the board.”

China has spearheaded projects such as the National Pharmaceutical Warehouse, the 1,000 Borehole project, and the new Parliament Building in Mount Hampden.

Other projects include the Kariba South Hydro Power Station Expansion, Hwange Thermal Power Station Expansion, Victoria Falls International Airport Upgrading, expansion and upgrading of the Robert Gabriel Mugabe International Airport and the Netone broadband construction which were financed through Chinese support.

During the COVID-19 pandemic, China also supported Zimbabwe with medicines and personal protective equipment.

 “I would like to reiterate that China-Zimbabwe cooperation will always give top priority to supporting Zimbabwe’s economic and social development, to improve its capacity of self-generated development.  Our cooperation will adhere to recipient-driven approaches, respect the independent choices of the Zimbabwean government and people, and never attach any political strings or economic coercive requirements. It is always Zimbabwe that makes the decision on what, when and where to build,” Guo said.

He called on other countries and international institutions to participate in the economic development of Zimbabwe, especially in improving Zimbabwe’s infrastructure and people’s livelihoods

Justice, Legal and Parliamentary Affairs Minister Ziyambi Ziyambi said Zimbabwe will continue to work closely with China in pursuit of a new global order that respects sovereignty, diversity and genuine multilateralism.

“We have witnessed increased investments in Zimbabwe by Chinese companies over the past few years. The Chinese business community has transferred technical expertise and created employment opportunities for thousands of our people.”

Ziyambi also acknowledged China’s clarion call for Western countries to remove sanctions imposed on Zimbabwe.

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