GOVERNMENT has assured foreign and diaspora investors that Zimbabwe is a safe place to open their businesses, and pleaded with them to consider the country as an investment destination of choice.
Speaking at the just-ended UK-Zimbabwe Business Expo, organised by the Zimbabweans in Diaspora Organisation (ZIDO) and Vaka Ekhaya, which was held at Bethel Convention Centre in Birmingham, United Kingdom, the Deputy Chief Secretary in the Office of the President and Cabinet, Manungo said Zimbabwe offers a friendly business operating environment.
“The government is alive to the need of creating a mutually beneficial and enabling policy and legal environment, that will provide the diaspora with opportunities to actively participate in the economic development of the country.
“In this regard, we are in the process of reviewing the National Diaspora Policy of 2016 to align it with the National Development Strategy (NDS1) and the National Vision of achieving an upper middle-income society by 2030. The policy seeks to maximise and broaden the pathways of mainstreaming the diaspora into the national development agenda and make the economy more inclusive,” Manungo said.
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He emphasised the importance of the diaspora community and its significance to the country’s growth through remittances, which went up by 13% to US$1,8 billion in 2023 from US$1,6 billion in 2022.
“I wish at this point, to reiterate His Excellency, the President’s (Emmerson Mnangagwa) clarion call for the diaspora to go beyond remittance and invest in productive sectors of the economy and the capital markets and earn sustainable incomes for your families back home,” he said. He underscored the diaspora’s contribution to the country’s economy, before outlining various areas providing investment opportunities for the foreign-based individuals.
“The government is actively promoting industrialisation and the development of Special Economic Zones to attract diaspora and foreign investment. Diaspora investors can consider investments in manufacturing companies, industrial parks, or sector-specific private equity funds,” he said, further highlighting other investment opportunities worth pursuing in agriculture, manufacturing and tourism.
Event organiser, ZIDO chief executive officer Blessed Kapesa, expressed excitement over the success of the event, which will now be held annually.
“We would like to extend our deepest gratitude to all Zimbabweans in the UK who attended our investment conference in Birmingham... For the first time in history, we had the honor of five distinguished ministers addressing the diaspora, presenting unparalleled investment opportunities back home. This would not have been possible without the incredible support of our government, and we are truly thankful,” Kapesa said.
The event was attended by various people including government officials, and captains of industry.
