The Deputy Minister of Trade and Industry, Ms Elizabeth Thabethe concluded her five-day investment and trade initiative to Zimbabwe with a keynote address at a business seminar that took place at the Holiday Inn Hotel in Bulawayo. More than 250 business people from South Africa and Zimbabwe attended the seminar.
In her keynote speech, Thabethe appealed to both South African and Zimbabwean business people to work together in order to assist in creating employment opportunities in both countries.
“Let us work together to grow the two economies and create much needed job opportunities and a better life for all our peoples. Out of this session, we expect to see further growth in trade and investment between South Africa and Zimbabwe,” said Thabethe.
She added that South Africa was positioned as a manufacturing centre of excellence, with a diversified base of industrial sectors. South Africa she said, had an open economy and provides a sound business case for investment and profit.
“We are world leaders in environmental technology; we have a world class Information and Communications Technology (ICT) sector and are the largest financial services hub for the region. Within Africa, South Africa also hosts the largest transport equipment cluster and a major creative industries centre. We are one of the most sophisticated and lucrative emerging markets in the world.
We have political and economic stability, as well as sound macro-economic management. South Africa has a large number of competitive industries, abundant natural resources and well-developed transport and logistical infrastructure. We also have a world class financial system and a sound constitution,” said Thabethe
The Vice President of the Zimbabwe National Chamber of Commerce, Ms Sheila Sidambe said opportunities for investment in Matebeleland in general and Bulawayo in particular for the South African business people were in abundance. These include the manufacturing sector which she said was currently operating at reduced capacity, by investing in distressed existing companies, expansion of the tourism infrastructure in through new investments and joint ventures with existing players, mining, agriculture, transport and information and communication technology sectors.
“The Government estimates US$1 billion is required to revive industry in the country’s second largest city, Bulawayo. This figure tells us that Matabeleland presents several investment opportunities for foreign investors. We invite you to partner us in various sectors as we continue on our Economic Growth Path,” said Sidambe.
The Chief Executive Officer of the Zimbabwe Investment Authority, Mr Richard Mbaiwa said: “After about a decade of economic decline there has been a serious deterioration in the state of infrastructure in Zimbabwe. Government recognises the need for private sector participation in financing and development of infrastructure. It also acknowledges the important role of the private sector in financing infrastructure development. The private sector is therefore welcome to participate in the development and provision of infrastructure on a public private partnership (PPP) basis.”
Enquiries:
Sidwell Medupe (Departmental Spokesperson)
Cell: 079 492 1774
Tel: 012 394 1650
E-mail: MSMedupe@thedti.gov.za
