presidentmugabe.jpgThe Head of State and Government and the Commander-in-Chief of the Zimbabwe Defence Forces, President Robert Mugabe has implored third world countries to seek the necessary co-operation that will propel them to develop their resources and transform them in a manner that benefits their people.

 

Cde Mugabe was speaking when he met with a three member business delegation from the Republic of Korea.

 

The Chief Executive of Posco Corporation, a Korean company that specialises in steel production, Mr. Chung Joon Yang is in the country leading a three member delegation from Korea. The delegation is in the country to sign a memorandum of understanding with a local diversified company, Anchor Holdings.

 

The delegation from Korea, senior staff from Anchor Holdings and the Korean ambassador to Zimbabwe, Mr. Ho Jack Hack paid a courtesy call on President Mugabe to express their interest in investing in the country.

 

President Mugabe was in the company of the Minister of State for Presidential Affairs, Cde Didymus Mutasa and Minister of Mines and Mining Development, Cde Obert Mpofu.

 

Addressing journalists soon after emerging from a closed-door meeting with the President, head of the Korean delegation, Chung Joon Yang said he is optimistic that Zimbabwe, which is endowed with excellent human resources, will benefit immensely from his country’s industrial and technological advancement.

 

He added that his company, Posco, is looking at investing in four areas that include mineral development, engineering and construction, power generation and infrastructure development.

 

Anchor Holdings Chief Executive Officer, Mr Michael Nyabadza noted that the coming in of the Korean company, that is rated the best in terms of competitiveness in Korea, will be a major boost to the steel making sector in Zimbabwe.

 

The Korean company has already set up investments in South Africa and Mozambique and could benefit in smart partnerships with Zimbabwean companies.

 

Zimbabwe has a diversified industrial base and boasts of mineral deposits of most major minerals exploited by man.

After years of sanctions the economy is recovering and the agriculture, mining and manufacturing sector are leading the revival process.