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Improved inflows of international investments that will complement local investments.

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Zimbabwe to Modernize Agriculture and Industrialize its Economy with Assistance from Belarus

https://moderndiplomacy.eu/2020/10/07/zimbabwe-to-modernize-agriculture-and-industrialize-its-economy-with-assistance-from-belarus/

    

Oct. 7, 2020

After five years of negotiations, Zimbabwe now gets its US$58 million farm mechanization facility from Belarus, while another deal worth US$100 million will be signed by year-end, according reports from the Zimbabwe’s presidency in Harare. Zimbabwe and Belarus have agreed on assembling 3000 tractors, agreed on the supply to Zimbabwe different kinds of machinery and equipment made in Belarus for agriculture and timber industry. Both have further agreed to establish a mechanization program for the farming and timber industries.

Previous Updates

Zimbabwe to get bus assembly plant

https://www.herald.co.zw/zim-to-get-bus-assembly-plant/

 

    

Oct. 1, 2020

Zimbabwe, through a joint venture cooperation with Belarus, will soon set up a vehicle assembly plant for the production of buses suitable for the local terrain, a move that dovetails into President Mnangagwa’s thrust for industrialisation.

FDI inflows improve. Jump to US$745 million in 2018

The Chronicle

    

June 18, 2019

Zimbabwe recorded Foreign Direct Investment (FDI) inflows of US$745 million in 2018, up from US$349 million the previous year, latest figures from the United Nations Conference on Trade and Development (UNCTAD) World Investment Report show. The improvement in the FDI flows into the country over the period under review can be attributed to the ‘Zimbabwe is open for business’ mantra; an aggressive investment drive that has been prioritised by the new dispensation.

Zimbabwe-China Mega deals

Herald

    

March 14, 2019

Economic deals signed between Zimbabwe and China are bearing fruit following yesterday’s successful commissioning of the National Backbone Fibre Link that was directly funded by a US$23,6 million facility from China Export and Import Bank (China Eximbank). This comes as Chinese acting chief envoy to Zimbabwe Ambassador Zhao Baogang revealed that Harare is in line for more funding from the Chinese through a $750 billion fund that the world’s second biggest economy has earmarked for global projects under the Belt and Road Initiative (BRI).

President undertakes Eurasia Tour

Ministry of Foreign Affairs and International Trade

    

Jan. 25, 2019

From Monday the 14 the of January to Monday the 22nd of January 2019, President Emmerson Mnangagwa undertook an engagement and reengagement visit to four Eastern European countries, namely the Russian Federation, the Republic of Belarus, Azerbaijan and Kazakhstan. The tour was aimed at consolidating and solidifying the engagement process that the President has outlined as the focus of his Foreign Policy under the Second Republic. The visits provided an opportunity translate the excellent political ties into mutually beneficial economic ties. The Russian Federation and Zimbabwe enjoy excellent bilateral relations, with marked cooperation in the mining, education, trade and tourism sectors. The President had talks with his counterpart at the Kremlin that led to the signing of 9 Memoranda of Understanding (MOU) and Agreements in agriculture, fertiliser supply, platinum mining, diamond mining, education, trade and investments, infrastructure development and rail transport.

Appointment of the Zimbabwe Investment Development Agency (ZIDA) Board of Directors

Herald

    

April 2, 2020

When President Mnangagwa appointed the board and chief executive officer of the newly formed Zimbabwe Investment and Development Agency (ZIDA), he went a long way in kick-starting operationalisation of the long- awaited entity.

The chief executive officer of United Refineries, Mr Busisa Moyo, was appointed board chair of ZIDA, while top private sector investment executive Mr Douglas Tawanda Munatsi came in as the chief executive officer.

Other members of the board are Dr Tobias Takavarasha, Mr Kenneth Richard Rupert Schofield, Dr Sylvia Janet Utete-Masango, Mrs Sithandile Ngwenya, Mrs Tariro Ndebele, Engineer Michael James Tumbare, Mrs Nancy Samuriwo and Mr Moosa Hanif Allana.

Enactment of the Zimbabwe Investment Development Agency ACT

Tralac Blog

    

March 9, 2020

On 6 February 2020, the President of Zimbabwe signed into law the Zimbabwe Investment Development Agency Act [Chapter 14:37] ((ZIDA Act). ZIDA Act deals with the promotion, entry, facilitation and protection of investment in Zimbabwe. The Act was introduced as part of the government’s efforts to streamline investment laws and create a business-friendly environment attractive to both local and foreign investors.

Bi-lateral Engagement with Belarus on Investment

Herald

    

Sept. 17, 2019

President Mnangagwa and Belarusian Chief of Presidential Affairs General Colonel Victor Sheiman held crucial talks to assess progress on investment opportunities which are set to transform Zimbabwe into the region’s transport and logistical hub. The Head of State and Government and Commander-in-Chief of the Zimbabwe Defence Forces (ZDF) held a three-hour-long meeting with Gen Col Sheiman at State House that was attended by three Cabinet Ministers and representatives of other ministries. Gen Col Sheiman’s visit follows President Mnangagwa’s trip to Belarus in January this year where they discussed investment opportunities in agriculture, mining, energy, transport and construction, among other areas.

 

New rules for Zim diplomats

Herald

    

July 23, 2019

The country’s diplomats serving at various missions will now have their performance measured in line with the Second Republic’s thrust of promoting economic diplomacy with those failing the test being recalled. This was said by Foreign Affairs and International Trade Minister Sibusiso Busi Moyo when he appeared before the Parliamentary Portfolio Committee on Foreign Affairs and International Trade yesterday.

President ED Mnangagwa woos Investors

Herald

    

June 1, 2019


On occasion of the official opening, of the Zimbabwe Annual Mining Conference organised by the Chamber of Mines of Zimbabwe, President E.D. Mnangagwa said in line with the engagement and re-engagement policy, the government shall play a part to guarantee that the country undertakes its affairs in line with the internationally accepted practices and that Investments into the mining sector and mining value chain industries are welcome and safe in Zimbabwe. 

    

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