Zimpapers Logo

Victoria Ruzvidzo in NEW YORK, USA

INVESTORS from the United States of America are keen to set up shop in Zimbabwe, with at least 10 projects worth US$500 million already rolling from a visit by the Atlanta Chamber of Commerce in March this year.

These projects are in data and energy infrastructure, Information Communication and Technology training, manufacturing, real estate, mining and tourism.

At least 75 investors from the Illinois Chamber of Commerce are also headed for Zimbabwe in December.

An advance team led by the chamber’s chairman, Mr Larry Ivory, was in the country early this month in preparation for the visit.

Presentations and discussions at the Zimbabwe-US investment Forum held here yesterday revealed the passion and desire with which investors from the US are eager to do business with Zimbabwe.

Foreign Affairs and International Trade Minister Ambassador Frederick Shava is welcomed by United Nations Secretary-General Antonio Guterres at the UN General Headquarters in New York on Saturday. – Picture: Tawanda Mudimu

In his presentation, Atlanta Black Chamber of Commerce head of Global Opportunities Committee, Mr Ricardo Berries, said his 1 200 membership organisation was excited about the opportunities resident in Zimbabwe.

“I couldn’t find enough words in the dictionary to explain our experience in Zimbabwe. It is a warm and receptive mighty nation that you have. There are vast opportunities in Zimbabwe,” he said.

At least 21 of the chamber’s members visited Zimbabwe for seven days in March as part of a tour to Southern Africa.

“It feels like we need to go back to Zimbabwe already. We are excited, we are enthused and we are anxious to build the Zimbabwe brand.

“Those that say why Zimbabwe, we ask them why not Zimbabwe,” he said to much applause from the delegates.

Mr Berries said in Atlanta, Zimbabwe had a partner and a friend anxious to build the country.

“Let’s aggregate our voices. Let’s continue to speak the same language and the same message (of building Zimbabwe) and we will get the attention that we need,” he said.

In his remarks, Mr Ivory said Zimbabwe exuded so much potential that its income levels could treble or quadruple over the next few years.

He said the onus to ensure that happens lies with its people and partnerships with such investors as those in the US.

“Zimbabwe is a gold mine of opportunities. We have problems here as black business but the only place we have a competitive advantage is in Zimbabwe and Africa as a whole.

“The United States is the strongest economy in the world. It got strong because of the blacks here so we can use that talent to strengthen Africa. We are negotiating a $15 billion fund to develop Africa.”

Mr Ivory commended Zimbabwe’s hospitality.

“There is energy in Zimbabwe. You feel special you want to come back. There is a sense of brotherhood and sisterhood we must capitalise on.”

Zimbabwe Investment Development Agency chief executive Mr Tafadzwa Chinhamo assured the American businesspersons that their investments would be safe in all aspects.

Last year had seen 149 new licences being issued out and 88 renewals, an indication of growing interest in the country.

“We are getting a lot of interest in our country”, he said.

Such projects as the $1,5 billion Dinson Steel plant at Manhize and the $300 million Beitbridge  Border Post modernisation project, were an indication of the opportunities in Zimbabwe.

Questions and comments towards the end of the meeting reflected a huge appetite by the investors.

The Engagement and Re-engagement strategy and the Zimbabwe is Open for Business mantra led by President Mnangagwa have put the spotlight on Zimbabwe, particularly over the last few years.