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Business Reporter
A Russian business delegation will visit Zimbabwe in November this year to follow up on their interest to invest in Zimbabwe’s Special Economic Zones, Ministry of Macro Economic Planning and Investment Promotion permanent secretary Dr Desire Sibanda has said. In a statement from Moscow last week, where he was leading a business and investment delegation to that country, Dr Sibanda said Russian companies have expressed interest to invest in the SEZs.

A Memorandum of Understanding between Zimbabwe and the Moscow Chamber of Commerce will be signed as a culmination of the visit.

The Russian delegation will also visit Zimbabwe to cement the cordial relationship that has been established as well as operationalising the implementation of the Memorandum of Understanding.

“The MoU is aimed at facilitating business investments in both countries. His Worship the Mayor of the Dmitrov District of the Moscow region, Mr Logachev Valery Andreevich, promised the Zimbabwe delegation that he will be accompanying Russian companies that will be coming to Zimbabwe in November 2016 as a result of this visit,” said Dr Sibanda.

About 20 companies from the private sector, among them, Oxlink Capital, Zimbali Garderns, Portnet, Africom, Fustic Engineering, Monadi Mining Zimbabwe, Lima Mike Con (Pvt) Ltd, Voedsel Tobacco International Zimbabwe, Guardian Pharmaceuticals, Afrospring Investments, interflow consultancy, Indigenous Business Development Committee, are part of the business delegation.

Russia is one of the Asian countries that established Special Economic Zones as a strategy to lure big renowned investors into its country. To date, the country has established 33 Special Economic Zones which comprise of high technology, science and research, health, energy, industrial centres, among others.

“With Russia’s vast experience in this area, Zimbabwe is poised to benefit immensely and Russian businesses should take Zimbabwe as their gateway of entering the Southern African market because of its strategic location in the region,” said Dr Sibanda.