Harare — ZIMBABWE and two Chinese investors on Monday signed four multi-million dollar deals that will see the Asian companies investing in the mining and transport sectors.
The memoranda of understanding signed between the Government and China International Fund and Sino-Zimbabwe Development Company will see investment in the construction of the Harare-Chitungwiza and Harare-Gweru railway lines, the extension of the Harare International Airport runway and a new taxi way in addition to aviation consultancy.
The Chinese will also pump in US$90 million for the resuscitation of Connemara Gold Mine near Gweru.
US$10 million will, within the next three days, be invested in diamond mining at Chiadzwa.
Speaking after the signing of the MoUs, Chief Secretary to the President and Cabinet Dr Misheck Sibanda said the agreements were a sign of the ever-strengthening relations between Zimbabwe and China.
He said China continued to have confidence in Zimbabwe in spite of the illegal sanctions imposed on the country by the West.
"This is an acknowledgement of the confidence China International Fund and Sino-Zimbabwe Development Company have in our economy.
"This comes at a time when there are some in the international community who are sceptical of our inclusive Government," Dr Sibanda said.
He reiterated calls for the removal of the illegal sanctions that have crippled the economy.
"I want to assure you and other investors that the President and the Government of Zimbabwe will continue to make the environment for investment conducive.
"The handicaps we had and the crippling sanctions did not bar you to come and assist us and you really are our friends indeed. We continue to call on those who have imposed sanctions to come on board and immediately remove these sanctions," Dr Sibanda said.
He said Zimbabwe was ready to work with any country and said Government would ensure the quick implementation of investment deals.
A representative of the investors said the signing of the MoUs was another example of the benefits of South-South co-operation and promised that China would continue to look for more investment opportunities in Zimbabwe.
"Today is a big day for Zimbabwe's Government and for us. This is based on the spirit of South-South co-operation.
"Today's achievements are a demonstration of the good relations between Zimbabwe and China and we believe there are more and more areas we can participate in and co-operate," he said.
The construction of the Harare-Chitungwiza railway line has been on the drawing board for a number of years and its completion will ease transport woes and costs for commuters who ply the route daily.
The extension of the airport runway and the taxi way has been noted as one way of luring back major airlines as Zimbabwe will be able to handle larger traffic volumes, especially with the 2010 Soccer World Cup in South Africa only seven months away.
Only two weeks ago, Zimbabwe and another Chinese joint venture investment company, Sonangol, signed five investment deals worth over US$8 billion covering oil and gas exploration, gold and platinum refining, fuel procurement and distribution, and housing development.
The investment has flown in the face of claims that Zimbabwe's Look East Policy has not paid dividends.
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Interesting, can you tell us what the Chinese will get out of this deal from Zimbabwe? I have mixed experiences about such deals within this region. I like the chinese for the roll they played during our liberation struggle but when it comes to economic deals I raise my eyes.
Lovemore_Mawowa;
Don't "raise your eyes" because the deals that China is entering into with Zimbabwe are transparent and above board. The Chinese, unlike imperialists from Europe and America are not intent on exploiting us. They are giving more than they are taking out of our country. As you rightly said the Chinese supported us (morally and materially) during the liberation struggle but never asked for a penny from us after our independence.
This is unlike the USA which is taking all deals in Iraq and Afghanistan simply because they evaded those countries and installed puppets governments. Black_Water had to be expelled from Iraq because of its excesses which are a reflection of the behavior of American soldiers and the CIA.
All oil deals in Iraq went to Blair and Bush's cronies and this only goes to show that they went into that country not for the purposes of helping the ordinary people but to exploit them. Remember they say that they have permanent interests and no permanent friends/foes.
I am happy to know that it is a transparent deal. We should not be exploited neither should we exploit others nations. We need smart partnership as smart Zimbabweans. I do not like what is happening in some of the counties like Uganda and Rwanda where they are making military concessions with Africom a US military expansionism deal. We do not need military mighty; we need social and economic development. These days I believe in home drawn packages not all those imported ideologies that have devastated our continent. I think it is high time we tell each other in the face within SADC. Even so we need to be self sustained as a country. This of look east, west, north and south makes me sick. I believe in look within our country. LOOK INTERNAL