The eighth India Africa Summit entered its second day this Monday with Vice President Joice Mujuru and the Vice President of India having a closed door meeting.
Cde Mujuru also met several representatives of companies interested in investing in Zimbabwe.
Representatives of Indian multinational companies expressed interest in investing in the Zimbabwean mining, agricultural and infrastructural development sectors.
Zimbabwe and India also commissioned a Zimbabwe-India Travel Council for the promotion of travel from India to Zimbabwe.
Speaking at the commissioning of the council, Deputy Prime Minister, Professor Arthur Mutambara highlighted the economic values that can be derived from India which has a population of 300 million people.
Meanwhile, Vice President Mujuru says it is critical for Africa to reduce its dependency on investments from the West and shift its focus to start establishing links with the East.
She was addressing delegates attending the 8th India-Africa summit in India.
Cde Mujuru said India is important to Africa as it is one of the fastest growing economies under the BRICS framework.
She added that political relations between Africa and India are excellent as they are based on mutual respect, thus laying a foundation for meaningful economic cooperation.
She also said Zimbabwe is looking to leverage the existing trade and investment relations between the two countries to broaden a win-win situation with particular emphasis on value-addition.Â
Cde Mujuru said in this regard, the country’s conducive and stable economic environment has allowed for effective investment planning and the launch of the Medium Term Plan in 2009, whose overal goal was toÂ transform the economony, reduce poverty, create jobs and restore economic capacity.
She said the Zimbabwean government has established a One-Stop Investment Centre to streamline investment support and facilitation processes.
The Vice President said government has opened up the energy sector to independent power producers and investors in a bid to restore normalcy in the sector as well as improve industrial capacity.
She also said other positive areas of interest to potential investors include the mining sector where the country boasts of having more than six different types of minerals which can be exploited for commercial vaue, including diamonds, gold, platinum, chrome and nickel, among others.