Indian, Turkish firms hunt for opportunities in Zimbabwe

Teams of Indian and Turkish investors are in Zimbabwe seeking investment and joint venture opportunities with local companies, mostly targeted at the Special Economic Zones, officials say.

About seven Indian tech companies attended this year’s Confederation of Zimbabwe Industries annual congress and investment conference in the resort town, which close on Friday.

Indian ambassador to Zimbabwe, Rungsung Masakui, said investors from that country were interested in helping Zimbabwe develop its small to medium scale enterprise sector, which now contributes 27 percent of the Asian giant’s gross domestic product.

“The government of Zimbabwe has announced Special Economic Zones. This is another area of opportunity for Indian businesses,” Masakui told the conference.

Earlier, CZI and Confederation of Indian Industry signed a Memorandum of Understanding to cooperate in investment.

“There is potential in the SMEs sector. We are also looking at medical tourism. We are planning to bring Indian corporates to invest in medical field,” he said, noting that once modern medical facilities were established, the whole of Africa would come to Zimbabwe for treatment, creating medical tourism.

CZI president, Sifelani Jabangwe, told the conference that despite the economic problems facing Zimbabwe, there were still opportunities for foreign investors in the country.

“We believe there are good opportunities for investors to make money in Zimbabwe. We import $7 billion goods per year, so there are opportunities for you,” he said.

Among the Indian firm attending the conference include the Airports Authority of India, which turned over $1,8 billion revenue in 2016 managing 126 airports, including 11 international airports.–source