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

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