industrial.jpgZimbabwe’s ambassador to Brazil, Cde Thomas Bvuma has implored both the public and private companies in Brazil to pursue investment opportunities in Zimbabwe, especially in areas such as infrastructure development and energy.

Ambassador Bvuma made the remarks during a business seminar between the Zimbabwean delegation to Brazil which is on a tourism, trade and investment mission and representatives from the Rio de Janeiro Chamber of Commerce.

The meeting is one in a series of business meetings that are being held as Zimbabwe intensifies efforts to enhance trade and investment with Brazil, which is South America’s biggest economy.

Rio de Janeiro Chamber of Commerce president, Mr. Marcus Polo said his organisation has a membership of more than 10 000 Brazilian companies and is willing to facilitate agreements that will increase cooperation between Brazil and Zimbabwe.

Mr. Polo also highlighted that Brazil and Zimbabwe’s policies are almost similar and doing business between the two countries should not present a lot of challenges.

He also extended an invitation to Zimbabwe to participate in a business seminar that will be held in three months time where African and south American countries are expected to take part.

President of the Federation of Chamber of Commerce in South America, Mr. Darc Costa said transportation of goods between the African continent and countries in south America has always been a hurdle but plans are now underway to improve the transport situation, which will help in luring companies to invest in Africa.

He said already Brazilian companies that have invested in Mozambique and Angola are working towards putting up a rail link between the two countries.

Zimbabwe Investment Authority chief executive, Mr. Richard Mubaiwa made a presentation highlighting government policies like the One Stop Shop Investment Centre, liberalised trade and foreign exchange regimes that have been deliberately put in place by the government to encourage public, private partnerships.

He also highlighted that the 5-year Mid Term Plan is expected to maintain macro-economic stability in the country which is favourable for investment.

Last year, trading between Zimbabwe and Brazil stood at around US$34 million, but was mainly in favour of Brazil.

 

The Brazil business seminars are an initiative of Vice President Cde Joice Mujuru’s office.

The business seminar was attended by both Zimbabwean and Brazilian companies.