Russia investors keen on more Zim opportunities Russia Deputy Minister of Industry and Commerce, Mr Alexey Gruzdev,(left) engages with Industry and Commerce perm-sec, Dr Mavis Sibanda (centre) and Zimbabwe Pavilion Commissioner General, Ambassador Mary Mubi, in Dubai yesterday

Business Reporter
RUSSIAN investors are keen to explore and tap into more opportunities available in Zimbabwe, which will assist the country in its drive to achieve an upper middle-income economy status by 2030, a top official from Moscow has said.

The two countries enjoy cordial bilateral relations dating back to pre-independence times and over the years they have sought to deepen cooperation on economic matters with a focus on trade and investments.

Guided by the National Development Strategy (NDS1:2021-2025), Zimbabwe is keen to entice increased domestic and foreign investments with focus on scaling up the contribution of exports to mainstream economy.

Speaking yesterday during a visit to the Zimbabwe Pavilion at the on-going Expo 2020 Dubai in the United Arab Emirates (UAE) Russian Industry and Commerce Deputy Minister, Mr Alexey Gruzdev, said his country stands ready to assist Zimbabwe in transforming its economy through tapping into available investment opportunities.

He said Russian businesses were keen to invest in different sectors of the country’s economy and assist in efforts to realise Vision 2030.

“We have quite sound bilateral, economic and trade relations with Zimbabwe.

We have established a special inter-government commission for economic issues to be able to promote and quicken the pace of economic growth,” he said in a video recording shared with Chronicle.

“What we need of course is direct supply and to explore more opportunities in different sectors,” said Mr Gruzdev who had an opportunity to engage more with Zimbabwe Pavilion commissioner-general, Ambassador Mary Mubi and Industry and Commerce permanent secretary, Dr Mavis Sibanda.

The Russia official expressed excitement after touring the Zimbabwe Pavilion where he was shown diverse investment and trade opportunities the country has to offer.

He said the visit has also equipped his country with critical information regarding industrial goods, machinery and technology required by Zimbabwe, which could be facilitated by Russia in order to assist in successful implementation of NDS1 and ultimately Vision 2030 attainment.

“Russian producers are keen and ready to explore these opportunities to help improve transport infrastructure, to ensure efficiency of the economy and also capacitate and to grow up the value chain in Zimbabwe,” said Mr Gruzdev.

“Of course, I believe that Russian investors while they travel as tourists and come back as business people with projects, the key answer is how to diversify our economies.”

Going forward the Russian official said it will be critical for Harare and Moscow to facilitate more engagements paving way for fruitful outcomes that will have positive impact on industrial value chains.

He also said it was incumbent on Russian businesses that already have footprint in Zimbabwe to showcase their breakthrough and thus inspire their fellow counterparts to seek to pursue available economic opportunities.

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