Zimbabwe intends to lure cash-rich investors from the
United Arab Emirates (UAE) to exploit opportunities in mining, tourism and
manufacturing when it engages them at the 5th Global Business Forum on Africa
2019 in Dubai.
The GBF Africa, which starts today and ends tomorrow in
Madinat Jumeirah, Dubai, encourages international revenue flows into Africa by
engaging decision-makers on the global investment scene.
The Dubai Chamber of Commerce and Industry is organising
GBF Africa 2019 under the theme, “Scale Up Africa”, which underscores the
centrality of cross-border cooperation in supporting and scaling up Africa’s
next phase of sustainable economic growth and development.
President Mnangagwa arrived in Dubai yesterday accompanied
by a number of captains of industry for the business forum, which will also be
attended by several African leaders.
The captains of industry will join their counterparts from
across the continent to deliberate on potential tie-ups with UAE investors, and
market potential in Zimbabwe.
Secretary for Information, Publicity and Broadcasting
Services Mr Nick Mangwana told The Herald at Robert Gabriel Mugabe
International Airport yesterday after seeing off the President and his
delegation that attracting investors into Zimbabwe was central to Harare’s
participation in GBF Africa 2019.
Mr Mangwana said the decision to have more businesspeople
and fewer Government officials flying to Dubai stemmed from the 2020 Budget
presented by Finance and Economic Development Minister Professor Mthuli Ncube
last Thursday.
“There are lots of incentives for our local businesspeople
and also to attract investment (in the Budget),” said Mr Mangwana.
“This is an extension to that, where the President is going
to Dubai to engage with his counterparts. He has gone with a number of
businesspeople; our corporate sector is with him.
“They will speak to business opportunities in Zimbabwe;
they will speak to the business climate in Zimbabwe, the challenges and also
the strengths. They will also hopefully come back with joint ventures.
“They will attract businesspeople because the best way you
can attract business in Zimbabwe is having people who are having business in
Zimbabwe to speak to the environment.”
Mr Mangwana said it was easier and convincing if
businesspeople spoke on and sold investment opportunities available in Zimbabwe
and the operational environment, as they were easily believed by their counterparts,
as opposed to Government officials.
“When we speak as Government, people may see politics, but
corporates speak to corporates, they speak the same language; there is
resonance,” he said.
“That is the reason why most of the people that have gone
with the President are businesspeople, are captains of our industry.”
Speaking on arrival, Professor Mthuli Ncube, who
accompanied the President said: “This is a conference that brings African
business together along with partners here in the UAE and also globally. It is
our hope that we will be able to cement our business relations with UAE going
forward.
“Zimbabwe has strong, long relations with the UAE. We
received medical equipment from them and we continue to trade between the two
countries and we hope that this will grow, but also we will network with other
countries that are here.
“This is fantastic for our engagement and re-engagement.
The UAE is very critical for that purpose and we are here to cement those
relations.”
Further, Zimbabwe plans to upgrade bilateral ties with
Dubai, which have escalated following President Mnangagwa’s visit in March this
year.
The visit has seen Dubai supplying medical drugs, not only
to victims of Cyclone Idai, but also to equip local hospitals and clinics.
High-level public and private sector stakeholders from many
African countries, including former Heads of State, CEOs, entrepreneurs,
industry experts and economists, are set to exchange ideas in Dubai from today.
Mr Hamad Buamim, president and CEO of Dubai Chamber, has
indicated that since inception, GBF Africa has served as a catalyst for
UAE-Africa economic cooperation and business exchange.
He said the 5th edition will highlight new high-potential
areas where African companies can collaborate with their UAE counterparts to
create new business opportunities and capitalise on existing trade and
investment potential.
Dubai-Africa non-oil trade has increased steadily in recent
years, a development showing the expanding trade ties and growing business
confidence between the two sides.
GBF Africa 2019 is expected to have interactive sessions
and panel discussions focusing on entrepreneurship, innovation, game-changing
partnerships, success stories, opportunities and challenges. Herald
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