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Saturday, June 22, 2024

UAE investors to finalise deals

Story by Fungai Jachi

A delegation of investors from the United Arab Emirates (UAE) is in Zimbabwe to finalise agreements in various sectors, including transport, mining and low-cost housing.

The move, which also includes agriculture, energy and sport, is the latest major endorsement for Brand Zimbabwe, as the ‘Zimbabwe is Open for Business’ mantra continues to attract investment in various sectors of the economy.

A team from Ploutous International Investment firm based in the UAE and United States of America jetted into the country Tuesday ahead of a three-day engagement which will culminate in the finalisation of investment deals in various sectors.

“We already came for scouting and now we are here to finalise the deals which will see us begin work soon. We are looking forward to work in the revamping of the railway system as well as low-cost housing, mining and agriculture. Zimbabwe is a beautiful country, and we are happy that we will be working together,” said Ploutous International Investment Director Special Projects, Mr Luis Vega.

Former National Basketball Association (NBA) player, Alex Mclean who is part of the delegation, is optimistic his first visit to Zimbabwe will be worthwhile in terms of scouting for talent.

“Africa is a place where there is vast untapped talent, and we are here to open up space for the youngsters. I am looking forward to helping these young folks pursue professional sports.”

Special Presidential Investment Advisor Mr Paul Tungwarara says the continued investor interest in Zimbabwe is a progressive outcome of the favourable environment created by the Second Republic.

“This shows how the operating environment has changed because a number of investors are showing interest in Zimbabwe. Take note that these investors came before for scouting buy now, they are here to seal the deals and start developments in low-cost housing, mining and agriculture sectors but are not limited to these areas only,” he said.

The delegation’s visit is a follow-up to President Emmerson Mnangagwa’s recent trip to the UAE, where he met some of the investors.

Meanwhile, the Ploutous team is set to unveil an aid package for Zimbabwe in the wake of the El Nino-induced drought.

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