Expo 2020 Dubai: Zim to showcase investment security
ZIMBABWE will use Expo 2020 Dubai to tell the entire world how secure foreign and domestic investment will always be under President Mnangagwa’s administration, which came into power November 2017, a senior official has said.
The Southern African nation will join 190 other countries for the world’s largest cultural, trade and investment gathering, which kicks off in Dubai on October 1, 2021 and runs until March 31, 2022, in showcasing to investors the abundant opportunities in the country.
Zimbabwe, a culturally rich and diverse nation, which the country will project to the world, will exhibit under the theme “Zimbabwe A World of Great Opportunity”, while the global exhibition will be held under the theme “Connecting Minds, Creating the Future”.
Its narrative at Expo 2020 will be premised on “our uniquely beautiful country with a diverse cultural heritage, our rich fertile lands abound with mountains, rivers, unusual rock formations and home to the big five; our hospitality, which is second to none, resilient and creative people with a work culture, which will lead to growth and prosperity”.
Further, during the six months long exhibitions, Zimbabwe’s participation in Dubai will encapsulate the theme of “hope for a better and prosperous future with empowered people, driven by unity of purpose to build a strong country.
Expo 2020 Dubai Commissioner General, Ambassador Mary Mubi said this week Zimbabwe represented many opportunities for trade and investment in the country and beyond, but importantly, noted investments in the country will be accorded highest security.
“Zimbabwe is committed to providing security of investment, as demonstrated in its active participation in bilateral and multilateral agreements, which include Overseas Investment Corporation (OPIC), Multilateral Investment Guarantee Agency (MIGA), the International Convention on International Trade Law (UNCITRAL), amongst others,” she
said.
In demonstration of its keenness on global cooperation matters, Ambassador Mubi said, the country was pursuing a robust reengagement drive to connect with the rest of cooperatingpartners through workshops, meetings and various other global events. Ambassador Mubi said President Mnangagwa had endeavoured to lead the various policy
reforms to create a conducive environment for investment in Zimbabwe while a coterie of new policies had been crafted to improve the ease of doing business and stabilise the economy.
A number of investment incentives have also been put in place for investors, including tax incentives targeted at agriculture, mining, manufacturing, tourism and transport sectors. Further, there are fiscal and non-fiscal incentives for investors in special economic zones and public private partnerships.
Some of the advantages of investing in Zimbabwe, Ambassador Mubi said, included Zimbabwe’s strategic location in southern Africa, being the logistical hub for the north and south corridor, linking telecoms, roads, rail and air for the Common Market for Eastern and Southern africa.
She said the country provides a gateway to a 400 million market in COMESA and 190 million in the SADC region, presenting huge opportunities for trade and investment for discerning investors.
“Zimbabwe, being a member of both SADC and COMESA, enjoys the benefits under COMESA and SADC free trade areas, COMESA-East African Community-SADC TFTA (Tripartite Free Trade Area) and AFTA (African Continental Free Trade Area), of accessing more than 600 million potential consumers,” she said.
Ambassador Mubi noted that Zimbabwe had a number of innovation hubs in its universities and the facilities are already developing and testing the various innovations that can be commercialised to improve products and services.
The country is also characterised by widespread use of digital technologies among consumers, giving an opportunity for businesses to improve market presence through online shopping and e-commerce, which is poised to overtake brick and mortar retailing.
Apart from an abundance of opportunities in agriculture, hospitality, tourism, mining, manufacturing and banking, among others, the country boasts a well educated and skilled workforce, with an exceptionally high literacy rate.
Investors could also pick on opportunities in the value addition sub-sector, where the Government has placed significant priority and crafted policies to advance beneficiation and value addition across a multiplicity of value chains.-herald.co.zw
