Zimpapers Logo

Rumbidzayi Zinyuke

Senior Reporter

Lebanese investors have expressed interest in taking up business opportunities in various sectors of the Zimbabwean economy.

The investors, who have come together under the banner of Lebanese Zimbabwean Friendship Association (LZFA) this week met Lebanese President  Michel Aoun to discuss the establishment of diplomatic relations between Harare and Beirut to ensure smooth flow of business.

LZFA president Mr Ali Morad said after the meeting with President Aoun, the association would seek audience with Zimbabwe’s Minister of Foreign Affairs and International Trade Ambassador Frederick Shava.

“The Lebanese president stressed the importance of strengthening bilateral relations between Lebanon and Zimbabwe to serve the common interests between the two friendly countries. He said that he would work to establish diplomatic, economic and trade relations in various fields, as well as exchanging experiences for the benefit of the two peoples,” said Mr Morad.

Mr Morad said the association was made up of business investors with operations in Lebanon, Qatar, Austria, Kuwait and the United Arab Emirates (UAE) who were all ready to explore the Zimbabwean market.

He said areas of interest included infrastructure, telecoms, mining among others.

The Second Republic led by President Mnangagwa has been on an engagement and re-engagement drive to improve the country’s diplomatic and economic relations with other countries through the ‘Zimbabwe is Open for Business’ policy which has improved the ease of doing business in the country.

Mr Morad said Zimbabwe had a safe and profitable investment environment into which Lebanese business people could tap.

 “We informed the President of the Lebanese Republic about the Lebanese-Zimbabwean Economic Conference which will be held at the end of this summer in Beirut in order to encourage investments in Zimbabwe,” he said.

He said companies that included Lindner, based in Germany, ICID in Lebanon, Doka in Austria and the biggest infrastructure company in the UAE, IFGUAE, had all expressed their willingness to invest in Zimbabwe.

“We already have business interests in east Africa, but we have not been in Southern Africa. Zimbabwe is central so we will start there and then we can move to other southern African markets. However, we are hoping that Lebanon and Zimbabwe can first establish diplomatic relations,” he added.

Mr Morad said the association would provide support to the Zimbabwean Government for the setting up of a consulate in Beirut to facilitate cooperation between the two countries.

“Besides investing, we also aim to give back to the people of Zimbabwe and we will build schools that will benefit communities,” said Mr Morad.