Zimbabwe News

Zim best climate for foreign investors, says businessman

The Herald

Fidelis Munyoro 

Business Writer
Foreign investors must seriously consider Zimbabwe as the best investment destination in Southern Africa given the country’s array of business opportunities across all sectors of the economy, Ali-Japan786 HK Limited executive has said.

Ali-Japan group is in the business of Japanese car trading and machinery and also has interests in mining, fuel, manufacturing and tourism business.

The group also boasts of an array of thriving businesses in Tanzania, Kenya, Ghana, Nigeria and South Africa among other countries in Africa.

Ali-Japan786 HK Limited director, Mr Ali Mohammed, applauded Government’s reform policies under the new administration saying they offer best business climate going into future for any foreign investor to look for opportunities.

“The reason why I say investors must choose Zimbabwe for business it is because of the vast opportunities present across all the sectors of the economy, coupled by President Mnangagwa’s Vision 2030,” he said.

“Also the country enjoys political stability and the Government encourages best business ambience. Zimbabweans work ethics is tremendous to attract investments.”

Ever since he came to power President Mnangagwa has declared Zimbabwe “open for business”, linking foreign relations with economic policy.

This, Mr Mohammed said would see the country’s economic centre growing formidably in the next few years to become the hub of trade in the region, but stressed on the need to make sure that the One-Stop Shop — linking the Immigration and Zimbabwe Investments and Development Agency — is properly functional to attract even hesitant foreign financiers.

Ali-Japan Group is planning to sink more than US$50 million into mining business, with Mr Mohammed confident that the country has a bright economic future.

Mr Mohammed said about five financially heavy Japan investors are ready to do business in the country, but their arrival have been curtailed by the Covid-19 pandemic.

Zimbabwe and Japan enjoyed cordial relations ever since Harare opened its embassy in Tokyo in 1982.

In 2015 the Japanese government made a decision to resume full-scale development schemes in the country as part of bilateral relations between the two countries.

Efforts are underway to have more Japanese companies investing in Zimbabwe in response to the ongoing economic reform process, with Tokyo and Harare pushing for improved bilateral relations.

Two years ago, a high-powered Japanese business delegation visited the country and paid a courtesy call on President Mnangagwa before holding a series of meetings with ministers with a view to exploring business opportunities in the country.

Relations between Zimbabwe and Japan improved over recent years, with various projects being undertaken under the Japan Official Development Assistance (ODA) framework.

There are plans to commence infrastructure development under the North-South corridor.

Zimbabwe has been a beneficiary of humanitarian aid from Japan, but the trend is shifting with the two countries now taking the relationship to new heights on projects that enrich both sides.


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