Zimbabwe Invites Indian Firms for Investment

Zimbabwe invited Indian companies to explore new business opportunities in the country’s diverse sectors such as mining, diamond cutting and polishing, power generation, telecom and tourism.

Zimbabwe has adopted what it calls a competitive business environment in the country through the ”Medium Term Plan” launched in 2011 and now as the country aims for double-digit gross domestic product (GDP) growth by 2015, many business sectors will offer attractive investment opportunities, Joice Mujuru, the vice president of Zimbabwe, said in her address at the eighth CII-EXIM Bank Conclave on India-Africa Project Partnership in New Delhi on Sunday.

CII India-Africa Project PartnershipMujuru emphasized value-added business activities and made a special reference to the diamond polishing and cutting industry, which would greatly benefit from closer business engagements with Indian companies.

Anand Sharma, the Minister of Commerce, Industry & Textiles for India, stated that as the global economy faces stiff headwinds resulting in contraction of markets and weaker trade and investment inflows, deeper economic cooperation between India and the African nations will provide the growth impetus to both regions.

“We will have to act together. In doing so we will emerge as the engines of global economic recovery,” he added.

The Indian business community has established its footprint in Africa, guided by the emerging opportunities in the region instead of any government mandate, said B. Muthuraman, CII’s president. “As a result, India’s business engagements with Africa are driven by the economic rationale, which I believe is a sustainable model of partnership.”

The three-day conclave, themed as “creating possibilities: delivering value,” entertained delegates from 40 different African countries and runs through March 20, 2012.

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