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Business Reporter

INDUSTRY and Commerce Minister Sekai Nzenza has implored businesses from Dubai and the rest of the Gulf region to seize opportunities in the country.

Minister Nzenza made the remarks at the Zimbabwe-Dubai Business Forum, which was held on the sidelines of Expo 2020 Dubai, in the United Arab Emirates (UAE).

Organised by national trade development and promotion agency — ZimTrade, the trade and investment indaba kicked off on Tuesday this week and ended yesterday. The business forum was designed to strengthen existing trade and investment relations between the public and private sectors in the two countries.

Minister Nzenza, who led Zimbabwe’s delegation to the indaba, implored the business community in Dubai and UAE to take advantage of opportunities available in the country.

She chronicled opportunities in sectors such as horticulture, manufacturing, and tourism and pointed out policies the Government had put in place to promote the ease of doing business and attract investment.

“Zimbabwe has entered a new era ushered in by the Second Republic, which has led the course of fundamental changes in the policy environment resulting in a sustained economic growth trajectory.

“The material point made here is that there have been fundamental changes to the policy and operating environment in Zimbabwe making it an attractive investment destination.

“This is coupled with the fact that the country is strategically located within the SADC region and endowed with massive mineral resources, arable land, a favourable climate, natural resources and a highly skilled and educated human resource base.”

Dr Nzenza also said that collaborations between Zimbabwe and partners in Dubai would unlock the full potential in Zimbabwe’s skills and natural resources.

“I have no doubt that the combination of the Zimbabwean policy framework, skills set and resources with the expertise and collaboration with the Dubai Chamber of Commerce will unlock enormous economic potential in different sectors.

“There is massive potential for lucrative partnerships as we invest in innovation and technology in pursuit of the 4th Industrial Revolution tapping into the United Arab Emirate’s advanced technology and efficiencies,” she said.

Speaking during the same event, director of international offices at the Dubai Chamber of Commerce, Omar Khan said there were high prospects in Zimbabwe for local companies supplying the Middle-East.

“United Arab Emirates (UAE) is a net importer of food products, and this offers a lucrative opportunity for Zimbabwean exporters to penetrate more the UAE and Dubai markets.

“Zimbabwe has a huge agricultural and related agro-processing business potential,” he said, adding “Beside the potential investment opportunities in the manufacturing of the agri-products, there also exists opportunities in supporting activities, logistics and services”.

ZimTrade chief executive officer Allan Majuru said Zimbabwe’s favourable climatic conditions means it can produce top quality products that can meet consumers expectations in Dubai, UAE and Gulf region.

“Thanks to our favourable climatic conditions, we have some of the best horticultural produce in the world and our target is to see more of these in the retail sector of Dubai.”

Mr Majuru also highlighted other sectors that can help improve trade between Zimbabwe and UAE, which is currently skewed in favour of primary commodities.

“Currently, the bulk of Zimbabwe’s exports are minerals, which is not sustainable as we open ourselves to vulnerabilities in the global commodities market.

“So, diversification in terms of export and import products is the way to go,” said Mr Majuru before he went on to unpack opportunities in sectors such as processed foods, leather and leather products, arts and crafts and services.

Apart from exporting, Mr Khan also said Zimbabwean companies could benefit from Dubai’s export offerings, particularly in capital equipment.

“The expanding manufacturing and food processing sector in Zimbabwe, have increased the demand for machinery and related equipment needed for the food and beverage manufacturing.

“These equipment can be sourced from Dubai,” said MrKhan. Dr Nzenza led a delegation of local companies and Government ministries and departments.

Minister of Lands, Agriculture, Fisheries, Water and Rural Development, Dr Anxious Masuka was also part of the delegation. More than 40 businesses took part in the trade and investment conference. The entities were drawn from sectors identified as low hanging fruits.

These included horticultures (avocados, mangoes, macadamia nuts, vegetables, chilies, sweet corn, peas, tomatoes, sweet potatoes), processed foods and beverages, meat and meat products, leather and leather products, clothing and textiles, and essential oils.

Other sectors that were represented include manufactured tobacco, building and construction, arts and crafts, mining, information and communication technologies, agricultural inputs and implements.

Services sectors such as finance, education, travel and tourism also participated in the business forum.