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Monday, May 27, 2024

Chinese investments expected to boost national development

By Bruce Chahwanda, Political Editor

FORMER Zimbabwean envoy to China, Ambassador Christopher Mutsvangwa says more Chinese investment in Zimbabwe will help unlock the full economic value of the nation, whose development is hinged upon key sectors such as mining.

Zimbabwe has witnessed several Chinese investments in various sectors of the economy which have transformed people’s lives.

Ambassador Mutsvangwa, who was speaking on the sidelines of the Chinese-Zimbabwe Investment Conference in Harare this Monday, noted how the influx of Chinese firms is unlocking the country’s economic value.

“Look at the arrival of Chinese companies in the country. They are now making Zimbabwe realise the full value of its mineral endowments in the lithium sector and other minerals,” he said.

Ambassador Mutsvangwa debunked the assertion that Zimbabwe’s relationship with China is uneven, saying it is a Western narrative meant to despise huge Chinese investments globally.

“China has been a great friend to Zimbabwe and the economy has been given a lift by China due to our close relationship. There is no way one can say we are being robbed of our resources judging by the immense projects which are being carried out by the Chinese,” he said.

Chinese firms have made a huge impact in Zimbabwe with investments in mining, steel manufacturing and agriculture among other sectors.

The US$1 billion Manhize Dinson Iron and Steel Company, which is set to be the biggest in Africa upon completion, is expected to see Zimbabwe become a continental hub of steel production

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