ZNCC lures Pakistani investors
ZIMBABWE National Chamber of Commerce (ZNCC) has taken advantage of the just-ended third edition of the Engineering and Healthcare Expo held in Lahore, Pakistan to lure investors to invest in different key industries in Zimbabwe, which include pharmaceuticals and agriculture.
The expo, which ended last Saturday, was attended by ZNCC Matabeleland Chapter vice-president Mr Mackenzie Dongo, who said the invitation to attend the event came following the signing of a Memorandum of Understanding (MoU) between ZNCC and the Pakistan Federal Chamber of Commerce last year as part of strengthening the co-operation between the two countries.
The MoU was signed to boost trade and investment amid concerns that total trade figures between the two countries are low standing at US$30,8 million in 2022.
This is despite the fact that Zimbabwe and the Asian country, enjoy cordial bilateral relations.
Pakistan’s exports to Africa in 2022 were US$1,56 billion whereas its imports from the continent stood at US$5,6 billion.
During the same year, Zimbabwe’s exports to Pakistan amounted to US$21,52 million while the country imported goods worth US$9,28 million.
The MoU between the two countries was signed between ZNCC and the Federation of Chambers of Commerce and Industry of Pakistan on the sidelines of the four-day Engineering and Healthcare Show held in Lahore last year.
Since the coming in of the Second Republic, President Mnangagwa has been calling upon foreign investors to invest in Zimbabwe through his philosophy “Zimbabwe is Open for Business”.
President Mnangagwa has on many fora encouraged Zimbabweans to ride on the Government’s engagement and re-engagement policies to expand their businesses.
Mr Dongo said Pakistan wants to expand trade with Africa in the fields of pharmaceuticals, agricultural and sports equipment.
“During the expo I took the opportunity to invite the Pakistan private sector to come and invest in Zimbabwe. There are opportunities to set up pharmaceutical factories in Zimbabwe which can then supply the African market,” he said.
Mr Dongo said he also invited Pakistan businesses to participate at this year’s Zimbabwe International Trade Fair (ZITF) in April so that they can get the opportunity to interact directly with buyers of their products.
Pharmaceuticals is one of the ten priority value chains under the National Development Strategy (NDS1).
Pakistan and Zimbabwe have excellent relations and have worked together in various fields including the military.
Pakistan played a key role in setting up the Air Force of Zimbabwe (AFZ) soon after independence by training airmen and technicians. – chronicle
