Categories: Stories

Zimbabwe on the right track- Foreign Minister

Mr Speaker, it is my firm contention therefore, that, regardless of the occasional diplomatic skirmish with the west, regrettably often overblown by both our local and foreign media and notwithstanding the West’s  stubborn reluctance to acknowledge progress in the implementation of Government’s home-grown reform agenda, our Re-Engagement efforts are paying dividends in terms of the New Dispensation’s commitment to rebuilding Zimbabwe’s image and to returning our country to its rightful place within the Community of Nations.

Mr Speaker, equally, as important as the aspect of traditional or political diplomacy to both Engagement and Re-Engagement, is the aspect of economic diplomacy.  It is on this element that I wish to concentrate in further illustration of the solid progress being made.  You are aware that my Ministry is also responsible for International Trade.  The promotion of international trade cannot be separated from the promotion of Zimbabwe as an attractive and secure destination for Foreign Direct Investment (FDI).  All Zimbabwean diplomats abroad  –  starting with the Ambassadors themselves are aware that they are now being assessed, in large measure, on their success in enhancing both trade and investment flows for our Nation.  In this regard, my Ministry and our Embassies work in close coordination with ZIDA, ZimTrade, ZTA and others.

Mr Speaker, Hon. Members will be aware of significant progress over the past two years with regard to a number of major investment initiatives.  It is not possible for me to list them all, but, even a random selection reflects the wide and widening range of investment suitors, from all over the world, who appreciate the enormous potential of our Nation and who are keen to come on board.

Allow me to mention just a few;

  • the US$ 4.2 billion Great Dyke Investments project, currently under construction, and set to boost production and beneficiation of Platinum and Platinum Group Metals;
  • a Joint Venture project between a Russian company and a Zimbabwean counterpart;
  • the US$ 4.0 billion Karo Resources Platinum Mining Project at Mhondoro-Ngezi, which is already ahead of schedule;
  • Tharisa PLC, which has major shareholding in Karo Resources is listed on both the Johannesburg and London Stock Exchanges
  • the Prospect Resources Arcadia Lithium Mining Project, with a projected initial investment of some US$ 175 million;
  • Prospect Resources is a battery minerals company, focused on lithium. It is listed on the Australian Stock Exchange;
  • the J/V arrangement between Alrosa, a Russian company and leader of the world’s diamond mining industry and a Zimbabwean counterpart;
  • the US$ 50 million Chinese investment by Sunny Ying Tile Company in Norton;
  • the US$ 50 million investment, by a UAE Company, involving the purchase and complete refurbishing of Meikles Hotel, Harare;
  • the US$ 45 million Pepsi-Cola plant established by Varun Beverages of India;
  • the US$ 25 million Invictus Energy Oil and Gas Project in Muzarabani where drilling is expected to begin in October 2021;
  • Invictus Energy is listed on the Australian Stock Exchange

Continued next page

(316 VIEWS)

Don't be shellfish... Please SHARE
Google
Twitter
Facebook
Linkedin
Email
Print

Page: 1 2 3 4 5 6 7 8 9 10 11

Charles Rukuni

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

Recent Posts

US congratulates Zimbabwe on its 44th anniversary, but maintains sanctions on the country

United States Secretary of State Antony Blinken has congratulated Zimbabwe on its 44th independence anniversary…

April 18, 2024

Did you know that if America’s billionaires were considered a country they would be the third richest nation in the world?

The 813 billionaires in the United States have a total wealth of US$5.7 trillion. If…

April 17, 2024

Mnangagwa spokesman says there is nothing to celebrate about latest US move on Zimbabwe sanctions

President Emmerson Mnangagwa’s spokesman George Charamba says there is nothing to celebrate about the United…

April 17, 2024

Two British aristocrats target one of Zimbabwe’s biggest lithium assets

Over drinks back in 2019, two British tycoons, Algy Cluff and Michael Spencer, agreed to…

April 16, 2024

Chamisa accused of destroying the opposition but says opposition is not one person

Former Citizens Coalition for Change leader Nelson Chamisa has been accused of destroying the opposition…

April 15, 2024

Zimbabwe central bank governor says people will soon be scrambling for ZiG, fears deflation

Zimbabwe central bank governor John Mushayavanhu says people will soon be scrambling for the country’s…

April 12, 2024