600 South Korean investors to visit Zim

In the recent months, there has been a steady flow of investors from the Far East seeking investment opportunities in the country as part of global expansion initiatives.

“Zimbabwe’s turnaround programme, which has come on the back of a revolutionary land reform programme, also seeks to anchor macro-economic stabilisation and prosperity in Zimbabwe,” Reserve Bank of Zimbabwe governor Dr Gideon Gono has said.

The visit by the Koreans is reciprocal to one undertaken by the central bank in May this year, under the auspices of the National Economic Development Programme.

“It is against the background that Zimbabwe is geared for the promotion of trade relations with the Republic of Korea.

“Following our visit to the Asian country in May we have over 594 confirmed investors from South Korea between now and November.”

Objectives of the mission were to promote foreign investment and trade as a continuation of current efforts to mobilise foreign exchange as mandated by the National Security Task Force of Foreign currency mobilisation.

These global initiatives, the Reserve Bank governor said, could be attributed to the unwavering hard work of the people of the Republic of Korea which has seen the country moving from a poor, war-torn underdeveloped economy to among the top 10 economies in the world.

The mission also sought to market investment projects across all sectors of the economy to potential investors and draw some lessons form Korea’s industrialisation and national strategies.

During his visit to South Korea, the central bank governor and his team met various companies in agriculture, mining, manufacturing, tourism, finance, construction and transport and communication.

The delegation also held a successful investment mission conference targeting potential investors and visited a number of companies with a view to exploring potential investment projects.

Apart from seeking investment opportunities, the delegation will also seek trade opportunities in the supply of agricultural machines and equipment and drugs, plastics, IT hardware and software, fibre optic cables as well as agro-chemicals.

Meetings between various Government ministries and Zimbabwe’s investment agencies would also be conducted.

“The Reserve Bank is very excited about the positive prospects of increased trade and investment flows between our two great nations,” he said. ‘The Herald.

August 2006
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