Wednesday, 20 February 2019 09:12

Japan External Trade Organisation (JETRO)

Minister of Foreign Affairs and International Trade Lt General (Rtd) Dr S.B Moyo met with the Japanese business delegation at his Munhumutapa offices Monday evening. The Minister welcomed his guests and thanked the Japan External Trade Organisation (JETRO) for organizing such a big business mission to the country.

The delegation was led by Mr Toshikazu Otani,who is the Itouchu Chief Executive for Africa.

The Hon Minister saw that the visit showed confidence in the new political dispensation under the leadership of H.E President E.D Mnangagwa by business persons from Japan.

Minister Moyo said the visit was well timed as it came when Zimbabwe is making strides towards achieving a new social and economic growth and developmental trajectory, anchored on comprehensive and holistic political, legislative and economic reforms

He also said he is encouraged by the fact that Japan continues to stand with Zimbabwe even during times of distress and encouraged the Japanese business community to abstain from believing false reports and negative publicity about Zimbabwe in the media and assured them that the country remains a safe and secure destination for both local and foreign business.

Dr S.B Moyo reiterated President E.D Mnangagwa’s mantra that “Zimbabwe is open for business” and encouraged the Japanese business sector to remain relentless in soliciting for partners for cooperation in both trade and investment.

Zimbabwe is confident that with cooperation from friendly countries like Japan, it’s low capacity utilisation in the economy will be enhanced and the country would realise robust and sustainable growth and development.

Foreign Affairs and International Trade Minister also stressed that there is need to revive and return to previous numbers and volumes, at which Japanese companies used to operate in Zimbabwe.

The business delegation was invited to consider scouting for business opportunities in the various areas where numerous opportunities exist in Zimbabwe which include the Agricultural and Tourism sectors.

Through business cooperation in areas of trade and investment, the cordial bilateral relations that exist between Zimbabwe and Japan at the political level can be translated into economic benefit for both countries.

In terms of its long term development aspirations ,the new Zimbabwean Administration crafted Vision 2030 and under this vision the government is mobilising individual and collective efforts for the country to achieve a middle income by 2030.

Through this vision, the government is demonstrating its commitment to developing and growing the economy and one of the aspects of Vision 2030 is the introduction of a wide range of market oriented economic reforms that attract foreign direct investment.

The business delegation was told that the government had amended the Indigenisation bill and the amendment allows investors to enter into all sectors of the economy including those that had previously been reserved.

The delegation was also informed that their rights will be protected under the new dispensation and were also told that there are only two areas in minerals which are still under indigenisation and these are diamonds and platinum.

In order to improve on the ease of doing business, the delegation was told that the government recently embarked on the establishment of the One Stop Investment Service Centre (OSISC) and the setting up of Special Economic Zones (SEZ).

The delegation was informed that these steps taken to enhance Zimbabwe’s openness to business as well as improve its competitiveness as safe destination for foreign direct investment.