Zimbabwe pledges conducive investment climate for Chinese investors
HARARE, March 31 (Xinhua) -- Zimbabwe remains committed to providing a conducive investment climate to Chinese investors wanting to do business in the country, Vice President Joyce Mujuru said Monday.
She said it was heartening to note that China, which helped Zimbabwe during the 1970s liberation struggle, was continuing to foster economic ties with the southern African country.
"It is gratifying to note that areas of cooperation have since grown to cover economic, business and cultural spheres of life," she said in a speech read on her behalf during the launch of the Chinese Federation of Zimbabwe.
The organization will represent the interests of Chinese companies in Zimbabwe and ultimately contribute towards strengthening economic ties between the two nations.
Mujuru urged the Chinese Federation of Zimbabwe to assist Chinese investors with consultancy services and other forms of support that investors requires, and encouraged it to work closely with various Zimbabwe government departments to facilitate better understanding of the business culture of the two nations.
Mujuru said Zimbabwe welcomed Chinese investment in the sectors of agriculture, manufacturing, infrastructure development and engineering among other sectors of the economy.
She took the opportunity to reiterate Zimbabwe's gratitude to China for its continued support to the African nation in the international fora.
"It is this support that strengthens our resolve to do business with China," she said.
China is Zimbabwe's major trading partner, with bilateral trade reaching 1.1 billion U.S. dollars in 2013.
It has also been Zimbabwe's top source of foreign investment over the past few years. In 2013, Chinese investment (in non- financial sector) to Zimbabwe topped 600 million U.S. dollars last year, beating Chinese investments flowing to other African states of the year.