French companies have expressed interest in investing in Zimbabwe, says VP Chiwenga – Zimbabwe Post

PARIS – French Vice President Dr Constantino Chiwenga has announced that growing interest among French companies to invest in Zimbabwe heralds a new chapter in economic relations between the two countries.

Vice President Chiwenga on Wednesday addressed more than 30 French business executives in Paris who said they were keen to invest in more than 10 sectors of the Zimbabwean economy. The delegation said it plans to visit Harare in October to finalise their priority investment areas.

Mr. Gerard Wolf, Chairman of the MEDEF Sustainable Cities Working Group, said: “We represent the largest companies in France and recognize the efforts of your government to promote economic development. We are ready to contribute through cooperation in the fields of agriculture, health, industry, mining, technology, water and sanitation. We plan to go to Harare in October to establish good business relations and create jobs, as we do in more than 100 countries.”

Vice President Chiwenga acknowledged that trade between Zimbabwe and France was currently in the doldrums but stressed the potential for a new economic partnership.

“Trade between our two countries has yet to reach its potential but this is an opportunity to start a new chapter. We need to leverage the expertise and technology of your companies with Zimbabwe’s natural resources. Zimbabwe is open for business and we are keen to promote economic diplomacy, relations and integration between our two countries. We are open to cooperation in all areas,” Chiwenga said.

He reiterated Zimbabwe’s commitment to resolving its debt problems with multilateral institutions as an important step towards achieving Vision 2030.

“You need to leverage the continental trade bloc and the EU to strengthen trade arrangements. We welcome the removal of most restrictive measures to pave the way for future cooperation. On our debt overhang, Zimbabwe is committed to settling arrears with all creditors as we pursue Vision 2030,” Chiwenga added.

The Vice President then met with officials from French geological survey company BRG to discuss potential cooperation between the two countries in agriculture and groundwater management, as well as strengthening geological survey efforts in Zimbabwe.

“We discussed agricultural issues and groundwater problems. We are exploring ways to use BRG technology to improve geological surveys in Zimbabwe,” he said.

Currently, there are several French companies operating in Zimbabwe and this number is expected to increase with the renewed interest of French investors.

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