eBusiness Weekly
Business Writer
Zimbabwe’s economy is set to benefit from increased business engagements between businesses in the country and established partners following the Zimbabwe-Dubai Business Forum that ended yesterday.
The Business Forum, organised by Zimbabwe’s trade development and promotion agency — ZimTrade — on the sidelines of the Expo 2020 Dubai currently underway, was designed to strengthen trade and investment relations between the public and private sectors in the two countries.
Speaking during the official opening of the Business Forum, the Minister of Industry and Commerce, Dr Sekai Nzenza, who also led Zimbabwe’s delegation to the conference, implored the business community in Dubai to take advantage of opportunities available in the country.
The minister presented opportunities available in sectors such as horticulture, manufacturing, and tourism and explained that the Government has put in place policy measures to promote ease of doing business and attract investment.
“Zimbabwe has entered a new era ushered in by the Second Republic which has led the course of fundamental changes in the policy environment resulting in a sustained economic growth trajectory.
“The material point made here is that there have been fundamental changes to the policy and operational environment in Zimbabwe making it an attractive investment destination.
“This is coupled with the fact that the country is strategically located within the SADC region and endowed with massive mineral resources, arable land, a favourable climate, natural resources and a high skilled and educated human resource base.”
Dr Nzenza also said collaborations between the country and partners in Dubai will unlock potential available in Zimbabwe’s skills and natural resources.
“I have no doubt that the combination of the Zimbabwean policy framework, skillset and resources with the expertise and collaboration with the Dubai Chamber of Commerce will unlock enormous economic potential in different sectors.
“There is massive potential for lucrative partnerships as we invest in innovation and technology in pursuit of the 4th Industrial Revolution tapping into the United Arab Emirate’s advanced technology and efficiencies,” she said.
Speaking during the same Forum, the Director of International Offices at the Dubai Chamber of Commerce, Omar Khan said there are high prospects for local companies supplying the Middle-East country.
“United Arab Emirates (UAE) is a net importer of food products, and this offer a lucrative opportunity for Zimbabwean exporters to penetrate more the UAE and Dubai markets.
“Zimbabwe has a huge agricultural and related agro-processing business potential,” he said, adding that “Beside the potential investment opportunities in the manufacturing of the agri-products, there also exist opportunities in supporting activities, logistics and services”.
Adding to export opportunities for Zimbabwe’s private sector, ZimTrade CEO, Allan Majuru said the country’s favourable climatic conditions produces top quality products that excite consumers in Dubai.
“Thanks to our favourable climatic conditions, we have some of the best horticultural produce in the world and our target is to see more of these in the retail sector of Dubai.”
Mr Majuru also presented other sectors that can help balance Zimbabwe and UAE’s trade, that is currently skewed in favour of primary commodities.
“Currently the bulk of Zimbabwe’s export are minerals, which is not sustainable as we open ourselves to vulnerabilities in the global commodities market.
“So, diversifications in terms of export and import products is the way to go,” said Majuru before he went on to present key opportunities in sectors such as processed foods, leather and leather products, arts and crafts and services sector.
Apart from exporting, Khan also said Zimbabwean companies can benefit from Dubai’s export offerings, particularly in capital equipment.
“The expanding manufacturing and food processing sector in Zimbabwe, have increased the demand for machinery and related equipment’s needed for the food and beverage manufacturing.
“These equipment’s can be sourced from Dubai,” said Khan.
Dr Nzenza led a delegation of local companies and Government ministries and departments.
Minister of Lands, Agriculture, Fisheries, Water and Rural Resettlement, Dr Masuka was also part of the delegation.
More than 40 businesses took part in the Zimbabwe-Dubai Trade and Investment Conference and these are drawn from sectors that have been identified as being low hanging fruits, such as horticultures (including avocados, mangoes, macadamia nuts, vegetables, chillies, sweet corn, peas, tomatoes, sweet potatoes), processed foods and beverages, meat and meat products, leather and leather products, clothing and textiles, and essential oils.
Other sectors that were represented include manufactured tobacco, building and construction, arts and crafts, mining, information and communication technologies, agricultural inputs and implements.
Services sectors such as finance, education, travel and tourism also participated in the business forum.
