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Friday, July 12, 2024

Zim readies for SADC Investment Forum

Story by Stanley James, Business editor

ZIMBABWE is expected to use the upcoming SADC Industrialisation Week to assure regional businesspeople of the vast investment opportunities in the country.

At least 14 investment promotion agencies from the SADC region are expected to take part at the investment forum during the regional trading bloc’s industrialisation week to be held in Harare later this month.

Zimbabwe Investment and Development Agency Chief Executive Officer, Mr Tafadzwa Chinamo says the forum is a vital component of tapping into the regional market share and also showcasing vast opportunities locally.

“Indeed preparations are on course as we gear for the SADC Investment Forum to be held on the 29th of this month. It is really critical for local companies to take it as a vital cog in identifying potential markets, their needs and what can be done to broaden investments. This is in line with our focus of attracting more projects while unlocking value in terms of foreign currency inflows,” he said.

The Permanent Secretary in the Ministry of Industry and Commerce, Dr Thomas Utete Wushe highlighted the need for local firms to engage regional investors on strategic alliances, broadening market share and networking.

“The area of focus is on how Zimbabwe can fully utilise the platform to attract regional investors. The country is on a positive trajectory in terms of the manufacturing sector however, with such a forum it further adds to the notion of broadening the scope of businesses by focusing on how other nations are fully implementing the latest technological investments to boost competitiveness,” he said.

The SADC investment forum will be held at a time the latest findings from a multinational accounting firm, KPMG show that Zimbabwe is among the top 10 preferred destinations in Sub-Saharan Africa for future foreign direct investment flows.

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