Zimpapers Logo

Dr Bimha

Livingstone Marufu Business Reporter
RUSSIA has shown keen interest in investing in the country’s industries with its private sector expected to visit the country to follow up on deals that were discussed on June 3 in St Petersburg.The latest interest came after the recent business visit to Russia by a high-powered delegation led by Vice-President Phelekezela Mphoko together with Industry and Commerce Minister Dr Mike Bimha Mines and Mining Development Minister Walter Chidhakwa and Finance and Economic Development Minister Patrick Chinamasa. Areas of discussion were manufacturing, mining, commerce, agriculture, health and others which Presidents Mugabe and Putin explored in Moscow in 2015. Dr Bimha told The Herald Business that the conference gave Zimbabwe a chance to hold mutually-beneficial dialogue with the international community on key issues on the global agenda concerning the economy and finances.

He said the conference gave them an opportunity to establish relations with participating companies and organisations.

“We managed to get a positive response as far as funding for capitalisation, retooling and value-addition machinery is concerned.

“We managed to create linkages between big corporations in Russia and our small and medium enterprises. Dr Bimha went on: “On my part I had an opportunity to meet a number of interested investors in a number of sub sectors; we met a group of companies that would want to invest in fertiliser production and those who are interested in food processing.

“There were investors who were interested in pharmaceuticals and a number of players who were interested in Special Economic Zones (SEZ) particularly on industrial parks.

“We received a number of enquires of aspiring investors and we were asked to prepare quite a lengthy document about our industry which we are expected to submit in July when we go for Russia’s international trade fair in Yekaterinburg, their third largest city.

Minister Bimha signed a number of treaties with his counterpart Minister Denis Valentinovich Manturov and believes that the relationship will mutually benefit both countries.

The Russian private sector is expected to come around September to exchange notes with their local counterparts.