Pakistan investor commends Zimbabwe business environment

PAKISTANI investment company, Flynote Investment Private Limited, which has business interests in Bulawayo, has commended the Government for coming up with policies that support fresh investments in the country.

Since establishing business operations in Zimbabwe, Flynote Investments managing director, Mr Hafiz Naeem, says their business has realised more policy support for business development, which motivates entrepreneurship to thrive.

From being a rice, flour and mealie-meal producer, Flynote Investment recently diversified into biscuit and stock feed manufacturing after setting up a new plant in Bulawayo.

In a recent interview, Mr Naeem said where others see obstacles, he sees opportunity and that given Government support, and skilled human resource in the country, he has chosen to invest in Zimbabwe.

“I have chosen to invest in Zimbabwe because its policies are favorable to business. In as much as people say the economic environment is turbulent, the policies are always available to safeguard businesses,” he said.

“Zimbabwean Government does not keep quiet when things are going up or down, they are always talking. So, there is proper policing that support growth of investments.”

Since the coming in of the Second Republic, President Mnangagwa has been calling upon foreign investors to invest in Zimbabwe through his mantra ‘Zimbabwe is Open for Business’.

The President has made his intentions clear that Zimbabweans must not be crybabies but ride on engagement and re-engagement policies to be part of the progressive global community and reverse years of stagnation.

President Mnangagwa

Mr Naeem said their investments were also being motivated by President Mnangagwa’s passion for economic transformation hence they were seized with expanding foot print.

“I have closed my textile company in Pakistan so that I use the funds to grow my business here in Zimbabwe. So, I use the money, which is available in Pakistan to import products like rice into Zimbabwe,” he said.

Going forward, Mr Naeem said as part of their business expansion, they were planning to buy some building near his firm in Thorngrove to put a weigh bridge.

He also commended Government’s effort to provide businesses with easy access to foreign currency through the auction system.

“We’re also beneficiaries of the foreign currency auction system, and the platform has allowed us access forex to mobilise equipment for our business,” he said.

Foreign currency

The Government introduced foreign currency auction system in June 2020 to provide forex to the productive sector.

Up to date business have benefited more than US$3,5 billion through the platform, which has allowed them to import machinery and raw material, which is essential to businesses.

Mr Naeem also said the prevailing peace in Zimbabwe is an added advantage as businesses thrive in areas where there is no strife. –chronice.c.zw