Indonesia ready to invest in Zim
ZIMBABWE must brace for more investors from Indonesia following the holding of “very credible, transparent and free” elections on July 30, Deputy Ambassador at the Indonesian Embassy in Zimbabwe, Dr Partogi Samosir, has said. Dr Samosir said this in an interview with The
Herald Business on the sidelines of the inaugural Miss Tyrone’s beauty pageant in Harare last Friday night, which they also sponsored.
Indonesian investors had abandoned Zimbabwe in the last 15 years but one firm, Shine Africa Brilliant (Pvt) Limited, has set up offices in Harare.
Shine Africa is keen to invest up to $1 million in partnerships with local food processing firms.
It also targets gold mining and sugar-cane farming.
Said Dr Samosir: “Personally, I was a foreign observer of the elections. I went to polling stations on voting day and I also went to several campaign rallies.
“I found that the election is very credible, transparent and free. So I believe that the election is very good particularly for the relations between Indonesia and Zimbabwe.
“This is a really good momentum for Indonesia and Zimbabwe to elevate their relationship. We are ready (to bring investors) and we hope the mantra ‘Zimbabwe is open for business’, is still there.”
Dr Samosir said he hopes Shine Africa will “not only generate profit for itself, but also for the people of Zimbabwe”.
Since President Mnangagwa’s swearing-in ceremony on November 24 last year, he declared that Zimbabwe was now open for business.
The mantra has seen heightened interest, particularly by foreign investors, who want to take up investment opportunities in various sectors of the economy particularly mining, energy and tourism.
Between January and June this year, the Zimbabwe Investment Authority approved investment proposals worth $16 billion and hopes are high that more investors will flock to Harare once the election challenge for presidential election results filed by MDC Alliance leader Mr Nelson Chamisa last Friday, has been concluded.
Dr Samosir said many Indonesian businesspeople were warming up to Zimbabwe due to the investor-friendly laws announced by the new administration.
The Deputy Ambassador led several Indonesian businesspeople to the Zimbabwe International Trade Fair (ZITF) in April this year so that they explore available opportunities.
Trade volumes between Indonesia and Zimbabwe amounted to $800 million last year, and Dr Samosir believes there is scope to vastly improve the trade figures.
In an earlier interview, Dr Samosir said Indonesia loves Zimbabwe and the participation of a delegation from his country was anchored on the desire to unleash the potential that exists between the two countries.
Some local firms have expressed interest in becoming distributors of Indonesian products particularly hospital equipment, food stuffs and textiles.
Dr Samosir frequently writes articles for Indonesian newspapers indicating investment opportunities available in Zimbabwe, and the benefits associated with such investments.
He also wants the Zimbabwe National Chamber of Commerce and the Confederation of Zimbabwe Industries (CZI) to explore opportunities in Indonesia.
The Deputy Ambassador said he is “ready to assist” local firms to enter the Indonesian market.
Indonesia has become a key player in world economics and is unsurprisingly a member of the Group of 20 most developed countries commonly known as G-20.
It is also Southeast Asia’s largest country and economy, with a GDP of $932,3 billion as at 2016.