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Cde Chris Mutsvangwa

Pamela Shumba Senior Reporter
THE government is in the process of revising all economic policies so that the country becomes the premier destination for investment in Africa, the Deputy Minister of Foreign Affairs, Ambassador Chris Mutsvangwa, said in Bulawayo yesterday.Addressing delegates to the Zimbabwe-China Business workshop on the sidelines of the Zimbabwe International Trade Fair (ZITF), Ambassador Mutsvangwa said Zimbabwe was open for business.

“We are in the process of revising our economic policies so that the country becomes the number one destination for investment on the continent. The revision of policies is in line with the government’s vision to set up Special Economic Zones (SEZ) in different parts of the country,” he said.

A Special Economic Zone (SEZ) is a geographical region designed to export goods and provide employment.

Ambassador Mutsvangwa said Zimbabwe’s fight against sanctions was over and it was time to increase the volume of trade, especially between Zimbabwe and its all-weather friend, China.

He said the SEZ would stimulate industrial growth in the country.

“There are bigger opportunities for economic co-operation between Zimbabwe and China. The two countries have had good relations since the liberation struggle. I would like to encourage China to support our efforts to establish SEZ in some parts of the country,” said Ambassador Mutsvangwa.

“I know both countries very well and that they are capable of boosting their economies. We have to increase the volume of trade and work hard to be rich. Zimbabwe is rich in resources and China stands to benefit from investing in the country,” he said.

Speaking at the same occasion, the Chinese Embassy economic and commercial counsellor, Han Bing, said Zimbabwe was one of the most important countries in Southern Africa.
“Zimbabwe has abundant natural resources and well developed infrastructure. In the past five years, the country had a rapid economic development and now has a huge market potential.

“In recent years, we could see the fast growth of bilateral trade between China and Zimbabwe. China has been in the top five largest trading partners of Zimbabwe since 2010,” he said.

Bing said in 2012, China’s annual bilateral trade  with Zimbabwe breached the $1 billion mark for the first time, while last year the total volume of trade between the two countries stood  at $1,1 billion.