Spaniards eye Zim investments
SPANISH investors have warmed up to the new dispensation in Zimbabwe and are keen to come and invest in the country.
A meeting hosted here by the Honorary Consul for Zimbabwe in Spain, Jose Maria Camallonga, and the Spanish Club of Exporters and Investors, was oversubscribed as investors sought to hear firsthand about developments in Zimbabwe and available trade and investment opportunities.
The investors expressed interest in Zimbabwe’s tourism, health, housing, agro-processing, renewable energy, waste removal and water reticulation sectors, among others.
“This is one of the very few occasions we have had more people show up than those invited,” said the president of the Spanish Club of Exporters and Investors, Mr Balbino Prieto.
Addressing the meeting, Tourism and Hospitality Industry Minister Priscah Mupfumira said Zimbabwe is ready for business.
“I would like to assure you all that Zimbabwe is now open for business. Visitors, trading partners and investors alike are most welcome in this country that is full of amazing business opportunities.
“We therefore plead with the international community to support Zimbabwe in its transformation and to give this new dispensation a fair chance,” she said.
Government had unveiled a raft of policy interventions and reforms that has once again made Zimbabwe attractive to investors, traders and tourists.
“The amendment of the indigenisation law, which had been cited as a restriction to investment, has illustrated Government’s seriousness to do business with the rest of the world,” she said.
Minister Mupfumira took the opportunity to narrate the developments that led to President Mnangagwa’s ascension to power.
Zimbabwe’s ambassador to Spain, France and the Vatican, Ms Rudo Chitiga said there are plenty of investment opportunities in Zimbabwe.
“Zimbabwe has all the minerals you can think of and there are opportunities in resuscitating mines and working on new claims and beneficiation,” she said.
Zimbabwe and Spain already have a Bi-lateral Investment Protection and Promotion Agreement (Bippa) and this could facilitate increased business activity between the two countries.
Already a Spanish company, Indra, is working with the Civil Aviation Authority of Zimbabwe to revamp the country’s air traffic control system. Indra is scheduled to begin work over the next few weeks.
Other Spanish firms are also expected to follow suit soon following the huge interest registered at yesterday’s meeting.
A cocktail hosted on Thursday night by the Zimbabwe Tourism Authority on the sidelines of the Spanish Travel and Tourism Fair saw African, Spanish and other European investors expressing willingness to do business with Zimbabwe.
Zimbabwe Tourism Authority chief executive Dr Karikoga Kaseke expressed optimism that the country’s tourism sector is heading for massive transformation. He noted that the new Government has really caught the attention of the entire globe.
The Spanish Exporters and Investors Club represent more than 100 firms in the productive sectors of the Spanish economy. It is a member of international trade organisations and collaborates with similar bodies across the globe.