ZITF ignites investor confidence

FOREIGN exhibitors have said the 62nd edition of the Zimbabwe International Trade Fair (ZITF) has ignited optimism among potential investors who are looking forward to exploring more business opportunities in the country in line with Second Republic’s “Zimbabwe is open for business” policy.

The country’s prime showcase kicked off in Bulawayo yesterday and runs until Saturday, amid a rise in the number of participants, which has forced organisers to expand exhibition space to accommodate more businesses.

It is anchored on the theme: “Rethink, Reimagine, Reinvent Value Chains for Economic Development” with a packed programme of conferences, sector specific fora and seminars having been lined up for the duration of the symposium.

A total of 14 countries being represented by 21 exhibitors are taking part with some showcasing their products for the first time.

In separate interviews at their stands at the Zimbabwe International Exhibition Centre, foreign investors expressed interest in strengthening bilateral and economic ties with Zimbabwe.

They acknowledged the rolling out of a comprehensive investment reform programme by the Government meant to remove a myriad of bottlenecks that have hindered foreign direct investment and domestic operations.

The improvements in investment climate have positioned the country favourably in global rankings thereby attracting much-needed FDI.
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Going forward, the foreign exhibitors said the country was likely to see a number of foreign investors setting up businesses on the back of improved investor sentiment.

Belarus pharmaceutical company, Belmedpreparaty’s representative Ms DaryaSidzelnikava said they are exhibiting for the first time at the ZITF and were looking forward to exploring investment opportunities in Zimbabwe.

The company produces a range of more than 200 pharmaceutical products, which it exports to several countries in different parts of the world.

“We are exhibiting at the ZITF for the first time and we are optimistic that this event will open investment opportunities for us.

“Zimbabwe is an investor friendly country and our ultimate goal is to explore new markets and provide our range of products to new clients around the world,” she said.

“The ZITF is a famous exhibition and we are meeting several people from different sectors and it will help us create cooperation and business opportunities in Zimbabwe as a growing economy.”

Ms Sidzelnikava said they are already supplying Kenya and Uganda with their products and are now eyeing new markets in the Sadc region.
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“We are ready to supply our products in Zimbabwe and other countries within the Southern African region. The ZITF is also an opportunity for us as exhibitors to meet face to face and reconnect as we explore new business opportunities,” she said.

Ms Sidzelnikava said her company did not encounter any challenges at the country’s port
of entry with regards to bringing in their products into Zimbabwe.

Malawi Embassy in Zimbabwe’s first secretary for trade, Ms Charity Mlombwa, said the trade fair provides investors with a unique experience that cannot be replicated online.

“We have different companies from Malawi, which are exhibiting their variety of products and the main thrust of participating at the ZITF is to strengthen and cement our trade relationship and cooperation between our country and Zimbabwe,” she said.

Some of the Malawian companies exhibiting at the ZITF include Lilongwe Dairy, one of the biggest dairy production companies in the neighbouring country and Nali, which is a renowned brand in chilli sauce.

Nali Sauce is a popular sauce from Malawi dubbed, “Africa’s hottest Peri-Peri sauce”.

Nali is made from Peri-Peri using Malawian bird’s eye chillies, the hottest in Africa. Until recently this sauce has been quite hard to get hold of in the rest of the world and rarely exported.

“We also have small to medium enterprises that are exhibiting their products for the first time. Some of them are exhibiting products made from cassava such as chips, baking flour and rice,” said Ms Mlombwa.

“We want to engage our Zimbabwean counterparts so that we find a market for these products, which are of international standard because at the end of the day, we are a family. We are also looking for partnerships in our small to medium enterprises.”

Deputy head of mission for the Kenyan Embassy in Harare, Mr Lazarus Muganda said: “We have companies from Kenya exhibiting a variety of products at the ZITF. It is important to note that as the world is opening up, we are saying it is important to explore new markets and new opportunities,” he said.

“We have milk that is produced in Kenya, which we feel should also be enjoyed in the Sadc region. We also have cooking oil and different types of teas and coffees that we are exhibiting.”

Kenya President Uhuru Kenyatta was supposed to officially open the ZITF as a guest of honour, but will not be able to attend the event as earlier scheduled following the death of his country’s former president, Mwai Kibaki who passed on last Thursday.

“Our President His Excellency Uhuru Kenyatta was supposed to come and officiate at the opening of the ZITF as a guest of honour, but to the death of our former President Mwai Kibaki, he is no longer coming,” said Mr Muganda.

“His coming would have seen a lot of Kenyan economic players participating at the ZITF because President of Zimbabwe, His Excellency President Mnangagwa and ours are championing and spearheading trade between the two countries.”

He said they had also planned to hold a Zimbabwe-Kenya Business Forum, which was, however, cancelled following the latest development.

“We hope that going forward Zimbabwe and Kenya are going to have more collaborations. The decision by our President to visit Zimbabwe arose from the good relations between the two countries,” said Mr Muganda.

“Last month, the President Mnangagwa visited Kenya during which a number of MoUs were signed including trade instruments to promote trade and investment.” He said Zimbabwe has a lot to offer in terms of investment opportunities in agriculture, mining, tourism.

The Indonesian Embassy, represented by Rahma Mardina said the ZITF serves to strengthen bilateral ties between Zimbabwe and Indonesia. “This is not the first time that we are exhibiting at the trade expo and we feel like, as friends of Zimbabwe, such expos strengthen our bilateral ties through cultural exchange
as well as intensifying export and import trade lines,” she said.-the herald