FDIs

The Zimbabwe government on Tuesday encouraged its citizens in the diaspora to invest back home and help re-build the economy.

Permanent Secretary in the Ministry of Foreign Affairs James Manzou said Zimbabweans in the diaspora have a critical role to play in the development of the country.

“In terms of the development of the country, you are very important and you have a key role to play in terms of achievement of Vision 2030,” Manzou said.

Under Vision 2030, Zimbabwe is aiming to become a middle-income economy by 2030.

Manzou was speaking at a signing ceremony of a Memorandum of Understanding between the Ministry of Foreign Affairs and International Trade and ZimThrive Trust — an initiative led by Zimbabweans in the Diaspora — aimed at fostering cooperation between the government and the organization in celebration of this year’s 40th independence anniversary.

Under the agreement, the organization will help mobilize Zimbabweans in the Diaspora to participate in a number of activities that will be held during the month of April, coinciding with the country’s 40th independence anniversary.

For the first time since Zimbabwe’s independence from Britain in 1980, this year’s independence celebrations will be held in the second largest city of Bulawayo following government’s decision to decentralize celebration of the national event.

“We are happy that we are signing this cooperation agreement with ZimThrive Trust pertaining to the diaspora homecoming in April 2020. This is a very important event that coincides with the 40th anniversary of the independence of our country,” Manzou said.

“We encourage Zimbabweans in the diaspora to take up investment opportunities available in the various reform programs that are taking place in the country including in the privatization of some state enterprises, the setting up of industries in Special Economic Zones, agro- processing and manufacturing industries, beneficiation and value addition in the mining sector,” he added.

Zimbabwe is facing acute foreign currencies and its Diaspora remittances rose by 2.6 percent in 2019 to 635 million U.S. dollars from 619 million dollars in 2018. Enditem

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