Russian investors keen on Zim: President

Wallace Ruzvidzo

Herald Reporter

THE Russian business community has expressed strong interest in investing in Zimbabwe, with business delegations expected to visit the country to explore opportunities, President Mnangagwa has said.

Speaking to the media on Friday night upon touching down at the Robert Gabriel Mugabe International Airport in Harare after attending the Third Russia-Africa Summit in Moscow, President Mnangagwa said Russian investors were “very interested” in exploring investment opportunities in Zimbabwe.

The President said he had assured the Russian business community that Zimbabwe was open for investment.

“They are very interested in coming to Zimbabwe.

“And I told them that Zimbabwe is open for business,” said President Mnangagwa.

He said Russian businesses had found Zimbabwe’s investment environment conducive and were keen to deepen their commercial engagement with the country.

“They find that Zimbabwe is very cooperative and they want to do more business.

“So we expect to have some business delegations coming to Zimbabwe,” President Mnangagwa said.

The expected visits could provide fresh impetus to efforts by Zimbabwe to attract foreign direct investment and expand economic cooperation with Russia, particularly as the country continues to position itself as an investment destination of choice.

President Mnangagwa’s engagements in Moscow came as Harare continues to strengthen its economic and diplomatic relations with Russia, with the two countries cooperating across various sectors.

The President has repeatedly emphasised the need to translate Zimbabwe’s diplomatic relations into tangible economic benefits through increased trade, investment and business partnerships.

Russian President Vladimir Putin said trade between Russia and African countries currently stood at US$27 billion, but remained significantly below its potential, calling for the figure to be doubled.

He also noted that national currencies, including the Russian ruble, now accounted for 85 percent of commercial settlements between Russia and African countries.

When asked whether Africa risked becoming a battleground for competition among major powers, President Putin dismissed the notion that Russia regarded African nations as pawns in geopolitical rivalry.

“We have not pursued any colonial policies. It is the opposite: We helped them to liberate themselves from the neo-colonial yoke,” he said.

On Africa’s continued call for the reforming of global institutions such as the United Nations (UN), President Putin backed permanent African representation on the United Nations Security Council (UNSC).

“I am absolutely convinced that Africa must be represented there permanently, including in the Security Council,” he said.

Source: Russian investors keen on Zim: President – herald

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