Huge response for investment indaba

Published: 13 April 2018

OVER 100 foreign investors have expressed interest in participating in the Mashonaland West is Open for Business Conference set for next week in Chinhoyi.

The potential investors are expected to play a key role in the transformation and establishment of an agro-based industry in the province.

Mashonaland West also boasts vast potential for mines and mining-related value addition and potential investors are expected from the United States, Italy and the region.

In an interview recently, Minister of State for Provincial Affairs in Mashonaland West Webster Shamu said the province also expects to leverage on tourism potential at the conference slated for April 20.

"Preparations are progressing well and invitations are being extended to various potential investors within Zimbabwe, the region and beyond," he said.

"We have a number of potential investors from America and Italy among others. Some of the potential investors are already participating in economic activities in our country."

A foreign guest of honour is expected to officiate at the conference. Minister Shamu said the conference should unlock local and foreign investment, while creating opportunities for local entrepreneurship.

Being a largely agricultural province, Minister Shamu said, the province's contribution to the national GDP could only be enhanced through mechanisation of farming and development of irrigation systems.

"For us to effectively contribute to the development of the country, our farmers need to be equipped with modern farming techniques and move away from ox-drawn draft power," he said.

"Agriculture, mining and tourism are the areas we need investment."

President Mnangagwa has said provinces should now quantify their contribution to the country's GDP.

Chartered Institute of Project Managers Zimbabwe executive director Dr Proctor Nyemba said the "Zimbabwe is Open for Business" policy needed to be decentralised such that provinces are one-stop entities that are able to process investment on their own.

"Provinces should grow and be able to provide everything for their citizens without the need for people to always go to Harare or Bulawayo for services," he said.

"Government has a role to play in decentralising all services. Zimbabwe Investment Authority offices should be found in the provinces so that investors have everything in a particular province they choose to invest in."

Dr Nyemba said the investment conference should ensure Government creates synergies with private players.

Zambia is expected to send a delegation that will sign cooperation and business agreements.
- the herald

Tags: Indaba,