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Global capital key in leap-frogging national development says President

Global capital key in leap-frogging national development says President

Story by Josephine Mugiyo, Diplomatic Correspondent in Dubai

PRESIDENT Emmerson Mnangagwa says attracting global capital is key in leap-frogging Zimbabwe’s development.

He was addressing business people from Dubai this Saturday, on the sidelines of the United Nations Climate Change Conference.

The United Arab Emirates is Zimbabwe’s second-largest trading partner after South Africa and efforts are being made to attract more investors from that country to explore various economic opportunities in Zimbabwe.

The President pitched opportunities available in sectors that include mining and agriculture, among others to potential investors.

He highlighted that through the country’s business arm, the Zimbabwe Investment and Development Agency (ZIDA), seamless services will be provided for prospective investors.

“The mantra is that Zimbabwe is a friend to all and enemy to none. Our one-stop investment center, ZIDA is ready to provide you with seamless services.

‘We are willing to ensure that capital feels safe in our jurisdiction. Zimbabwe has the best weather on the planet. It has created the most favorable investment climate in the region and has abundant arable land and modern agriculture,” said the President.

The President highlighted that the country’s vast tracts of arable land are suitable for growing various crops, noting the need to attract global capital to unlock value in the agriculture sector.

“Those who want to invest in agriculture here is the chance. It is possible to grow most food crops that men wish to eat. We have the land, what we need is global capital and technology. We are a very peaceful country in the region. I’m not beating my chest as it is said in Shona Nyika Inovakwa Nevene Vayo. It’s rare to find people who come and want to leave once they come to Zimbabwe. So we are offering those who want to come and invest this opportunity.”

President Mnangagwa reassured the businesspeople that their capital would be safe in Zimbabwe.

“We use the win-win approach in investments, I know investment capital can only go where it multiplies. As Zimbabwe we are a third-world country however we want to play our global part towards food security. We have a model of agriculture that guarantees food security at the household level, to leapfrog development we need global capital investment,” he said.

Under the Second Republic, economic diplomacy is being prioritised as the country seeks to lure investors.

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