The delegation, which comprised players from the infrastructure, medical, information and communications technology, manufacturing, agro-processing and mining industries, held a one-day investment seminar for Zimbabwe and South African firms in Bulawayo yesterday.
Leader of the delegation and South African deputy Industry and Trade minister Elizabeth Thabethe said there was a great need to amplify the economic relations between the two countries and it was the responsibility of the governments to create the enabling environment for business.
Thabethe, who did not talk about government’s recent effective expropriation of South Africa-owned platinum giant Zimplats, under the controversial indigenisation campaign, told the seminar South Africa, the continent’s biggest economy by far, was one of the most sophisticated and lucrative markets in the world and encouraged Zimbabwean businesses to tap into existing investment opportunities.
“Since 2009, Zimbabwe has had positive growth rates above 5% per annum, reaching 5,9 % in 2010. Investment in the development of infrastructure in Zimbabwe will have a high rate of return as this will lead to an increase in demand for manufactured and capital equipment,” said Thabethe.
She said since 2003, South African companies had undertaken 12 investment projects in Zimbabwe totalling R10,87 billion, creating more than 2 000 jobs in the metals, minerals, tourism and financial services sectors.
A representative of BMZ Import and Export Agencies, said they were scouting for local agencies to expand their business.