Ministers, UAE investors exchange notes

United Arab Emirates billionaire Mr Shaji Ul Mulk and his delegation yesterday held meetings with Cabinet ministers and exchanged notes on possible investments.

They promised to invest in among other things, real estate, mining, agriculture technology and Covid-19 vaccine manufacturing.

Mr Mulk led a delegation of investors under the banner Zimbabwe Global Investment and they had dinner with President Mnangagwa at State House on Tuesday night.

In an interview last night after meeting the envoy, Finance and Economic Development Minister Professor Mthuli Ncube said the meetings were a continuation of deliberations with President Mnangagwa on Tuesday night.

“Today was to meet with Government departments, the ministers who are relevant to the projects that they are proposing. It has been a very fruitful discussions with investors and I think that progress will be made over the next few months,” he said.

Prof Ncube said the investors met ministers of Housing and Social Amenities and Local Government and Public Works since they wish to drive investment into the housing sector, real estate and construction of malls.

“They also met with the Ministry of Energy and Power Development looking into the investment into the solar sector and in the energy sector. They also met with the Ministry of Mines and Mining Development to pursue potential investments in the mining sectors especially in the platinum group metals sector,” he said.

Professor Ncube said himself and the Reserve Bank of Zimbabwe Governor have scheduled meetings with the investors.

“They will also meet with the Minister of Health and Child Care to consider investments in the health sector looking at production of vaccines and other things.

“In the agricultural sector looking basically at supporting the Pfumvudza programme with a further commercialisation of the programme, but on a public-private partnership basis with the Government,” he said.

Prof Ncube said the investors also had deliberations with the Minister of Industry and Commerce where they are looking at opportunities for further value addition in several areas especially in the oil and lubricants sectors and also further processing of tobacco.

Mr Mulk said they were very excited about the meetings discussing several aspects including mining, agricultural-technology, processing industry and Covid-19 vaccines.

“We hope to continue the good work that we started,” he said.

Prevail Group chief executive Mr Paul Tungwarara expressed gratitude to be one of the facilitators as the meetings are fruitful.

“Projects have been resolved and we expect signing of the contracts very soon even before their departure,” he said.-The Herald