For­eign in­vest­ments safe in Zim — In­dia

Chronicle (Zimbabwe) - - Front Page - Stan­ford Chi­wanga in Navsari, In­dia

IN­DIAN cap­tains of in­dus­try and com­merce have en­cour­aged fel­low busi­nesses to in­vest in Zim­babwe say­ing the new Govern­ment led by Pres­i­dent Em­mer­son Mnan­gagwa has put in place mea­sures to guar­an­tee the safety of for­eign in­vest­ments.

Dur­ing a one-day, “In­vest in Zim­babwe” con­fer­ence held here on Mon­day by the Di­a­mond As­so­ci­a­tion, In­dia’s lead­ing for­eign in­vestors urged their coun­ter­parts to look be­yond In­dia.

Mr Mukesh Kothari, the manag­ing direc­tor of Kanku In­ter­na­tional — a multi­na­tional plas­tic prod­ucts man­u­fac­tur­ing com­pany, de­clared Zim­babwe as one of the safest in­vest­ment des­ti­na­tions in Africa.

“I have been to 52 African coun­tries and I can guar­an­tee you that Zim­babwe is the safest coun­try in Africa. For­eign in­vest­ments have been safe for a long time and with the new Govern­ment, in­vest­ments are safer. This Govern­ment is a baby, this Govern­ment is only three months old and it wants to do busi­ness with the world. We must not let this op­por­tu­nity pass us by,” he said.

Mr Kothari told the over 100 busi­ness del­e­gates, all drawn from In­dia, that Zim­babwe has nu­mer­ous qual­i­ties that make it an in­ter­na­tional in­vestor’s dream.

“There are a lot of changes hap­pen­ing in Zim­babwe. There are three key fac­tors that make Zim­babwe at­trac­tive — it is safe for in­vest­ments, it is safe for the in­vestor be­cause there is peace and rule of law, you can travel by road at night and day with­out be­ing a vic­tim of crime. And skilled labour is there. An­other key fac­tor is that Zim­babwe is ag­gres­sively work­ing to have ad­e­quate elec­tric­ity for in­dus­try,” he said.

“I wanted to set up a plas­tic tank man­u­fac­tur­ing fac­tory in Zim­babwe but I failed be­cause of the 51-49 per­cent share­hold­ing ra­tio but I am aware that it has been scrapped. So, I am again work­ing to set up a plant there. There are lots of op­por­tu­ni­ties in Zim­babwe so I am invit­ing you to come and in­vest with me. You can do any busi­ness you want there, but we must make sure we em­ploy Zim­bab­weans, the host coun­try should also ben­e­fit. Let us help Zim­babwe rein­dus­tri­alise.”

The pres­i­dent of the Navsari Di­a­mond As­so­ci­a­tion, Mr Kam­lesh Malani, told the busi­ness com­mu­nity that he was plan­ning to lead a busi­ness del­e­ga­tion to Zim­babwe soon to ex­plore in­vest­ment op­por­tu­ni­ties.

“We are com­ing to Zim­babwe with a busi­ness del­e­ga­tion any­time soon. We will write to the rel­e­vant au­thor­i­ties be­cause I think it is proper that In­dian busi­ness peo­ple see for them­selves that Zim­babwe is not only a low crime coun­try but a coun­try with highly ed­u­cated and skilled peo­ple. Zim­babwe is not only min­eral rich, it is into agri­cul­ture, re­tail and man­u­fac­tur­ing.

“Let us go and you see for your­selves the vast op­por­tu­ni­ties that are avail­able there . Prop­erty rights are en­sured. Some are ask­ing about what hap­pened in Novem­ber last year. It was a cleans­ing process of all the bad things that were hap­pen­ing in the coun­try. No one will ask any­thing from you to fa­cil­i­tate your in­vest­ment, ev­ery­thing is done ac­cord­ing to the law,” said Mr Malani. Mr Satish Gandhi, a busi­ness­man, told the meet­ing that in­vestors were afraid to in­vest in Zim­babwe be­cause of the false pic­ture painted by the in­ter­na­tional me­dia. “I think the prob­lem we have is that the me­dia lies about the sit­u­a­tion in Zim­babwe. It is those lies that make in­vestors stay away. In­stead of go­ing to Zim­babwe to see for them­selves, they fall for the lies. I have been to Zim­babwe and I can tell you with cer­tainty that Zim­babwe is a safer coun­try than some African coun­tries that I have vis­ited, some have high crime rates and in oth­ers there are armed con­flicts,” said Mr Gandhi.

The Deputy Min­is­ter of In­dus­try and Com­merce, Raj Modi, who is here on a busi­ness visit, as­sured the Navsari busi­ness peo­ple that Zim­babwe was a safe haven for their in­vest­ments.

“We are a new dis­pen­sa­tion, please for­get about what hap­pened in the past and ig­nore the lies that you are told. Zim­babwe is open for busi­ness and we mean that. We now have for­eign cur­rency bank ac­counts. So, your money is safe. No one will touch your money, no one will chase you away af­ter you have in­vested,” he said.

Kanku In­ter­na­tional manag­ing direc­tor Mr Mukesh Kothari

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