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Business Reporter

INDUSTRY and Commerce Minister, Dr Sekai Nzenza, has implored businesses from Dubai and the rest of the Gulf region to seize trade and investment opportunities in the country.

She made the remarks yesterday at the Zimbabwe-Dubai Business Forum, which was held on the sidelines of Expo 2020 Dubai, in the United Arab Emirates (UAE).

Organised by the national trade development and promotion agency – ZimTrade, the trade and investment indaba kicked off on Tuesday this week and ended yesterday.

The business forum was designed to strengthen existing trade and investment relations between the public and private sectors in the two countries.

Minister Nzenza, who led Zimbabwe’s delegation to the indaba, implored the business community in Dubai and UAE to take advantage of opportunities available in the country.

She chronicled opportunities in sectors such as horticulture, manufacturing, and tourism and pointed out policies the Government had put in place to promote the ease of doing business and attract investment.

“Zimbabwe has entered a new era ushered in by the Second Republic, which has led the course of fundamental changes in the policy environment resulting in a sustained economic growth trajectory,” she said.

“The material point made here is that there have been fundamental changes to the policy and operating environment in Zimbabwe making it an attractive investment destination.

“This is coupled with the fact that the country is strategically located within the SADC region and endowed with massive mineral resources, arable land, a favourable climate, natural resources and a highly skilled and educated human resource base.”

Dr Nzenza collaborations between Zimbabwe and partners in Dubai would unlock the full potential in Zimbabwe’s skills and natural resources.

“I have no doubt that the combination of the Zimbabwean policy framework, skillset and resources with the expertise and collaboration with the Dubai Chamber of Commerce will unlock enormous economic potential in different sectors,” she said.

“There is massive potential for lucrative partnerships as we invest in innovation and technology in pursuit of the 4th Industrial Revolution tapping into the United Arab Emirate’s advanced technology and efficiencies.”

ZimTrade chief executive officer, Mr Allan Majuru, said Zimbabwe’s favourable climatic conditions means it can produce top quality products that can meet consumers expectations in Dubai, UAE and Gulf region.

He highlighted other sectors that can help improve trade between Zimbabwe and UAE, which is currently skewed in favour of primary commodities.

“Currently, the bulk of Zimbabwe’s exports are minerals, which is not sustainable as we open ourselves to vulnerabilities in the global commodities market,” he said.

“So, diversification in terms of export and import products is the way to go.”

Dr Nzenza led a delegation of local companies and Government ministries and departments. Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Dr Masuka was also part of the delegation.

More than 40 businesses took part in the trade and investment conference and these were drawn from sectors identified as low hanging fruits such as horticulture, processed foods and beverages, meat and meat products, leather and leather products, clothing and textiles, and essential oils.