Published by the government of Zimbabwe
1 October 2009
Harare — A 25-member business delegation from Germany that arrived in the country on Tuesday yesterday got an insight into the political and economic developments in the country through various presentations by local organisations.
Zimbabwe Investment Authority board chairperson, Mrs Marah Hativagone said although there has been a plethora of problems in the country, the economy was turning around.
This, she said was due to a number of positives such as coming into being of the inclusive Government and measures introduced such as the adoption of the multiple currency system.
"Zimbabwe is in the process of rebuilding itself and investment has been given high priority by Government and we believe that this is sufficient to regain investor confidence," she said.
She also underscored the critical need for capital to enable companies to retool and procure raw materials to increase capacity.
Her sentiments were echoed in other presentations that were made by different speakers including ZIA chief executive Richard Mbaiwa, Zimtrade's marketing manager, Mr Stanley Tupiri, Zimbabwe Stock Exchange chief executive Mr Emmanuel Munyukwi and Zimbabwe National Chamber of Commerce vice president Mr Oswell Binha among others.
The first secretary for the Germany Embassy in Zimbabwe, Mr Matthias Schumacher said they were keen to ensure that trade between Zimbabwe grows to above US$100 million.
Zimbabwean exports to Germany peaked at US$155,8 million in 2001 before dropping to US$39 million in 2007 and rising to US$93,6 million last year.
Zimbabwean imports from Germany rose from around US$48,9 million in 2001 to US$49 million in 2007 and US$62,8 million last year.
"The presence of the delegation here is a sign of optimism in the Zimbabwean economy hence the need for them to come and see for themselves what the country has to offer," he said.
He, however, emphasised the need for the country and Government to create a conducive environment to facilitate growth in trade.
The regional manager Southern Africa for Afrika-Vereign Business Development that organised the visit, Mr Andreas Wenzel said the visit, which is a fact-finding mission, was essentially a re-engagement process.
"We hope that after this we will have members of the delegation coming back to finalise deals," he said.
The chief executive of the Southern African-German Chamber of Commerce and Industry, which also organised the trip, said the business delegation was keen to engage in mutual partnerships.
"We believe that the time is ripe to establish contacts that would lead to long term partnership because that is what we believe in," he said.
Mr Wensel said they believed that the sanctions imposed on the country were not permanent and it was essential as business people to position themselves as the country's economy rebounds.
The delegation, which has interests in mining, agriculture, electrical engineering, banking, stockbroking, construction and computer software and other technology is in the country until Saturday.
During its stay the delegation would engage in business to business meetings with the CZI and ZNCC, Government officials, Zimbabwean parliamentarians, local banks and economists.
The country has in recent months hosted a number of delegations from within the region and abroad as foreign investors has shown renewed interest in investment opportunities in Zimbabwe. The country has so far hosted delegations from South Africa, Botswana and India among others.
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Investors should be convinced that Mugabe has maintained safety and stability in Zimbabwe despite the sanctions and destabilization by outside forces. Zimbabwe is a lot safer than many other countries in Africa.