Published by the government of Zimbabwe
14 May 2009
Harare — ZIMBABWE is endowed with a vast array of mineral resources requiring technological investment to extract, President Mugabe has told the visiting delegation from the Republic of Korea, which in turn described Zimbabwe as one of the safest investment destinations in the world.
"May I begin by welcoming you to the country and to also thank you for visiting us at a time we are still going through hardships imposed on us by some people outside through sanctions," President Mugabe said.
"Our country is endowed with natural resources. These range from coal, chrome, iron ore, copper, platinum, gold and diamonds. A lot of gold has been dug but there are still lots of claims yet to be exploited."
President Mugabe said modern equipment is required to extract the minerals.
"There is a lot of value underground but we must bring it up. On the surface we also have natural resources."
The Republic of Korea delegation, which arrived in Zimbabwe on Tuesday, comprises of heads of companies and Members of Parliament led by Floor Leader of the governing Grand National Party Mr Hong Joon Pyo.
The delegation met President Mugabe at Zimbabwe House in Harare yesterday and endorsed Zimbabwe as one of the safest investment destinations in the world.
The delegation expressed interest in the Kunzvi Dam project that will augment Harare's water supplies and irrigation in surrounding areas.
They also registered interest in thermal power generation, saying they intended to construct a thermal power station on a Build-Operate-Transfer basis.
"Your Excellency, it may please you to note that following a visit by your minister Dr (Ignatius) Chombo from April 19-26 most Korean companies expressed a lot of interest to visit Zimbabwe. They have realised that Zimbabwe is one of the safest destinations for investment.
"This delegation is on a mission to explore business opportunities existing in Zimbabwe with special interest in the following areas: the Kunzvi Dam project, the thermal power project, housing, mining, agriculture, rural development and infrastructure development," said head of the business delegation, Mr Tiger Kwon.
Last month Local Government, Rural and Urban Development Minister Dr Chombo was in the Republic of Korea to establish economic co-operation linkages.
Mr Tiger said Dr Chombo's visit had enlightened South Koreans on the real situation prevailing in Zimbabwe and dispelled the misconceptions presented by the Western media.
He added that their delegation's visit marked the "entry" of Korean companies into Zimbabwe and they were now awaiting the nod from the authorities here to invest in the country.
The business delegation comprises Hyundai Construction vice president (power and energy) Mr Myoung Reul Huh, the chief representative of South Africa-Korea Development Bank Mr Yong Kang Kim and the chief representative of the South Africa-Korea Electric Power Corporation Mr Chang-Mok Lee.
It also includes the managing director of Trapeace Zimbabwe Mr Jae Hyung Roh, chief executive officer of Trapeace Korea Mr Se Hwan Shon, chief planner of Town House SeoKwang Construction Mr Bu Young Jung, the chief civil engineer of Korea Rural Corporation Mr Si Yong Woo.
Also in the delegation were president of GCM Water and Sewerage Engineering Company Mr Man Hee Park, president of Shinyong Infrastructure Company Mr Yong Bum Park, chief representative of South Africa-Korea Yonhap News Agency Mr Jung Sang Kwon and Colonel Gap-sik Shin from Korea National Defence.
The delegation has since visited Victoria Falls.
Meanwhile, the World Taekwondo Federation yesterday bestowed President Mugabe with an honorary 6th dan black belt in taekwondo.
Mr Tiger presented the belt and a full taekwondo kit to President Mugabe.
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Zim safe for investment, Lets read between the lines here. What this means from Bob is, as long as you grease Bob's thieving paws with US dollars then he's anyones man. What a thief. Investment in Zim , yes , Mugabe's back pocket, forget it. When will other countries learn .
perhaps it is safe for investment that MUGGA can invest in another 25 bedroomed house!!
Well, what a relief. No need for western investors, North Korea is there to take up the slack. Goodbye, our former friends.