Zim targets 10pc FDI growth after Osaka 2025 global exhibition

ZIMBABWE intends to grow its foreign direct investment (FDI) and volume of trade by 10 percent annually after its participation in the forthcoming Osaka 2025 World Expo in Japan.

The envisioned participation at the Expo also endeavours to grow the country’s tourist arrivals by 15 percent annually.

This comes after Zimbabwe’s successful exhibition at the Expo 2020 Dubai, United Araba Emirates, saw it secure trade partnerships and investments from Asia and other parts of the globe.

One of the biggest investment deals Zimbabwe sealed at Expo 2020 Dubai was the US$250 million Joint Venture agreement signed between the Agricultural and Rural Development Authority (ARDA) and the NV Group of India to establish a brewery in Masvingo.

Similarly, the Zimbabwe Tourism Authority (ZTA) managed to strike a partnership with Dubai National Air Travel Agency (DNATA) Travel for marketing local tourism offerings.

Riding on these successes, Mr Allan Majuru, who was recently appointed Commissioner General for Osaka 2025 World Expo (Zimbabwe team) is convinced that the global exhibition will work positively for local trade and investment.

Over 28 million visitors from across the world are expected at the event while over 150 countries have confirmed their participation in the sixmonth-long showcase to be held from April 13 to October 13, 2025.

The Expo, which will run under the theme “Designing Future Society for Our Lives” and supported by three subthemes “Connecting lives”, “Saving lives” and “Empowering lives”, is expected to enhance Zimbabwe’s visibility, networking opportunities, learning opportunities, and competitive analysis.

The participation of local players at the international exhibition is expected to benchmark the quality of Zimbabwe’s product offering whilst tapping from international best practices.

It will create a platform for the government to engage with international investors and promote policies that encourage Foreign Direct Investment (FDI).

The envisioned participation at the occasion is also aimed at growing the country’s tourist arrivals by 15 percent annually.

This comes as President Mnangagwa has doubled up the efforts to promote tourism in the country when he recently launched the National Tourism Recovery and Growth Strategy which seeks to increase investment in the tourism sector.

While ZTA is currently working on strategies to drive domestic tourism industry growth to a US$5 billion industry by 2025.

Mr Allan Majuru said Zimbabwe’s participation at the six-month-long showcase affair will be anchored on re-engagement efforts with the international community.

“I am hopeful that our participation in Osaka 2025 World Expo will bring more benefits as we leverage on our successes in past world expos and demonstrate to the world that ‘Zimbabwe is open for business’.

“We want to make sure that this is industry driven as the private sector is some of the key beneficiaries. Thus we have put in place six subcommittees composed of members from both the private and public sectors to assist in planning,” said Mr Majuru

By participating in the exhibition event, Zimbabwe will showcase its economic potential, and investment opportunities, to potential investors from around the world.

Expos provide an opportunity for Zimbabwean enterprises to meet and connect with potential investors, new business opportunities and collaborations.

Permanent Secretary in the Ministry of Foreign Affairs and International Trade, Ambassador James Manzou said Osaka 2025 was an integral platform for Zimbabwe to advance its diplomatic agenda to new heights.

He said the primary objective of attending the Expo was to improve international relations and foster economic growth, through re-engagement.

“Zimbabwe’s participation at Expo 2025 will provide an excellent opportunity for us to market our unlimited investment opportunities in agriculture, mining, tourism, manufacturing, and technology.

“In line with our foreign policy thrust, as a “Friend to all, enemy to none”, Zimbabwe will forge new partnerships and attract investment from new frontiers at Expo 2025, in line with the government’s approach over the past five years,” said Amb Manzou.

The six month event offers a platform to attract international investors and businesses who are interested in exploring new markets and expanding their operations.

Zimbabwe aims to showcase its offerings through exhibitions, B2B meetings, commercial activities, cultural exchanges and demonstrations. It will also conduct side events such as Trade and Investment Seminars, and Business Forums among other activities to amplify the country’s presence in
Japan.-herald