Chinese businessman eyes Zim investment
CHINESE business mogul Mr Li Jinyuan intends to make Zimbabwe his top investment centre in the region as he expands his business footprint on the African market under his “One body, multiple wings” strategy, Post Business has learnt.
Mr Jinyuan is the founder of Tiens Group, a multinational conglomerate operating in bio-technology, finance, logistics, real estate and e-trade amongst other sectors.
The billionaire, who according to Forbes magazine has an estimated $ 1,3 billion net worth was on an investment exploration mission in the country this past week has pledged a host of investment projects in the shortterm having been impressed by Government success in improving the business operating environment.
His decision to emphasise on Zimbabwe is also based on the country’s geographical location which sets it at the centre of the SADC region.
Already, Tiens group has been operating in the country for the past six years in distribution and selling of healthcare products creating employment for locals.
Mr Jinyuan who met President Emmerson Mnangagwa at State House before his departure last Thursday highlighted that Zimbabwe was at a critical economic reformation stage which made it a top investment destination in the region.
Speaking to Post Business at a Harare hotel, the businessman revealed his intention to invest in a plethora of projects which will be intertwined to his core business of health care services.
“My discussion with the President was very fruitful. Zimbabwe is at a point of reformation.Government is going to provide an avenue and environment for investment and it’s very wonderful.
“We want to invest in global tourism in Zimbabwe,healthcare, and inter-border e-commerce both online and offline and financial products and real estate and engineering and even agriculture and international trade, we buy and sell across the globe.
“The Tien global strategy is what we call the “one body, multiple wings strategy,” under the one body, multiple wings strategy, the wings are the different sectors of business which are going to be linked together and when they are linked together people are going to benefit from these businesses,” said Mr Jinyuan.
The investment interest comes at a time the country was seeking investors across all sectors of the economy and if implemented will be a major boost in the industrial transformation of the country.
He also expressed interests in the pharmaceutical sector which has been one of the country’s major source of import bill.
“The President told me there is need for pharmaceutical products in Zimbabwe so I intend to make investment in pharmaceutical products and we will work on that, but will have to work on the situation on the ground.
“I will have to invest according to the situation on the ground. I will need to do a survey and after that I will know the value of investment I need, but I realised the President has a reformation agenda on mind,” he added.
The Chinese have positively impacted several economies across the region in the pharmaceutical sector, having transformed the Ethiopian pharmaceutical industry into a global exporter of drugs.
Tiens group patron in Zimbabwe, Mrs Miriam Kangai said the investments will fill in a massive void particularly in the country’s pharmaceutical industry which is currently struggling.
“We are grateful for the commitment shown by the group president in this market particularly after the meeting with President Mnangagwa. These investments will greatly change the healthcare industry in the country which is suffering from lack of healthcare products,” said Mrs Kangai.