vp mujuru 08.07. 2011.jpgThe Zimbabwe delegation, which is on a tourism, trade and investment promotion mission in Brazil, has held a trade promotion and investment business seminar with its Brazilian counter-parts.

The seminar was hosted by the Ministry of External Relations in Brazil at San Thiago Dantas Hall in Brasilia.

In a speech read on her behalf by the Tourism and Hospitality Industry Minister, Cde Walter Mzembi, Vice President Joice Mujuru said the seminar marks a turning point in the economic relations between Zimbabwe and Brazil, adding that the Zimbabwe government has since adopted a public-private partnership policy that is expected to accelerate development in all sectors of the economy.

Cde Mujuru highlighted that Zimbabwe has in the past two years registered huge strides in macro-economic stabilisation and has managed to contain inflation within a single digit level.

She also explained to the seminar participants that the adoption of a multi- currency system in Zimbabwe together with other reforms has resulted in a conducive and stable business environment which allows forward planning investment and savings.

In the speech, Cde Mujuru also highlighted that Zimbabwe’s mining sector continues to register notable growth and is projected to grow by 44% this year since the sector is enjoying increased capacity utilisation.

She said Brazilian investors can consider opportunities that exist in the value addition chain like cutting and polishing of diamonds.

Cde Mujuru also highlighted various opportunities in the tourism sector especially investments in accommodation, hunting safaris, transfrontier conservation areas and community based tourism enterprises.

She also said investment opportunities exist in the energy sector, saying the country has since opened up the sector to allow entry of independent power producers as a strategy to mitigate the obtaining energy deficit in the SADC region.

Zimbabwe’s economy is on the recovery path with inflation rate now standing at 2,9%.

The economy registered a 5,7% growth in the year 2009 and a further growth of 8,1% in 2010 while the economy growth rate is expected to reach 9,3% this year.

Brazilian Under Secretary General for Cooperation, Culture and Trade Promotion in the Ministry of External Relations, Ambassador Hadil da Rocha Vianna said his government is ready to cooperate with Zimbabwe in various sectors of the economy.

Other members from the Zimbabwe delegation including the Zimbabwe Trade Promotion Agency Deputy Director, Ms Charity Zhanje; Zimbabwe Investment Authority (ZIA) Chief Executive, Richard Mbaiwa; Brazilian Trade and Investment Promotion Department Director, Ambassador Norton Rapesta and Brazilian Trade and Investment Promotion Agency Business Manager, Ms Anna Paula Repezza also exchanged notes on how the countries can cooperate for mutual benefit.