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Wednesday, May 29, 2024

Zimbabwe’s energy sector charms visiting Chinese delegation

Story by Stanley James, Business Editor

A delegation from the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) is in Zimbabwe to explore investment opportunities in the energy industry.

The Chinese delegation got down to business this Friday and held talks with officials from the private sector, state-owned utilities and the government over existing opportunities, project requirements, financing, joint ventures and resource mobilisation.

China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME) Executive vice president Mr Zheng Chao revealed interest to establish business ventures across the country.

“The talks centred on how we can find each other on matters relating to cooperation in the energy value chains, for us we are here to see and conclude but from the way our talks progressed there is much we can offer in terms of investments and trade within the entire energy industry in Zimbabwe,” he said.

The Permanent Secretary Ministry of Energy and Power Development Dr Gloria Magombo says the interest of the Chinese investors is an indication of Zimbabwe’s vast opportunities in the energy sector value chains.

“Renewable energy is the key centre of focus so as a government we welcome their thrust and allow them to assess the investment features and offer expertise on matters relating to green-field projects and joint ventures.”

The Chinese business delegation is made up of executives from construction sectors, engineering value chains, business consultancy, renewable energy experts, mechanical engineers and financial energy investment portfolios among others.

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