A business delegation from Taiwan is in the resort town of Victoria Falls to explore investment opportunities and has since hailed the economic reforms being championed under the second republic.

Eighty-five members of the World Taiwan Chambers of Commerce arrived in the border town of Victoria Falls on Monday to explore the investment opportunities and to engage the Victoria Falls Municipality on possible areas of cooperation.

Head of delegation and assistant representative at the Taiwan embassy in South Africa Mr Philip Lee said the business people are excited about the investment opportunities in the country and the economic reforms being implemented by the Zimbabwean government. 

“We are pleased with the economic reforms being instituted by the second republic and the team is here to explore the investment opportunities,” said Mr Lee.

The Taiwanese business delegation also hailed the fast improving tourism sector in Zimbabwe and expressed confidence that the country can benefit from the recent growth in Taiwan outbound tourism.

Taiwan has over the years emerged as one of the world’s most prominent tourist-exporting countries.

Ex-Harare Mayor Mr Ben Manyenyeni who was accompanying the delegation said business communities of the two nations’ stands to benefit more by developing mutually beneficial partnerships.

“They are serious investors from some of the biggest firms around the world and we are hopeful that they will be investing in our country,” Mr Manyenyeni said. 

Taiwan currently occupies an important position in the global economy and was ranked by the World Trade Organisation (WTO) as the world’s 16th largest exporter of merchandise in 2017.

With over US$400 billion in foreign exchange reserves, Taiwan is also one of the largest holders of foreign exchange reserves.