japanese envoy 16.11.10.jpgJapanese investors are eyeing joint ventures with local companies in key sectors of the economy through the injection of fresh capital for recapitalisation.

 

Representatives of Japanese companies who arrived in Harare this week for a 4 day business visit are in talks with captains of industry and commerce on possible strategic partnership deals aimed at injecting new funds to sectors such as mining, manufacturing, agriculture , construction and tourism in return of equity or shares.

Japanese Ambassador to Zimbabwe, Mr Hiroyuki Tarumi says discussions with local firms are aimed at strengthening economic and trade ties at a time the economy is showing signs of recovery.

“The business people are in talks with local firms on possible strategic alliance and it is our hope that meaningful deals will be sealed,” said Mr Tarumi.

Members of the Japanese business community have expressed hope that they will finalise investment deals that will lead to the recovery of strategic firms.

“Zimbabwe is crucial and strategic so we hope to seal strategic partnerships,” said one delegate. 

While the local industry is looking for fresh capital injection from willing international partners, the Confederation of Zimbabwe Industries Past President, Mr Callisto Jokonya says the business community is ready to work with the Japanese investors on joint venture transactions.

“We are ready to work with them as their presence is important in creating new business opportunities,” Mr Jokonya said.

Foreign investors have been visiting the country in the past 16 months to explore business opportunities on the back of a sudden economic recovery characterised by improved production and stable macro- economic conditions.