Zimbabwean president commends investors from China

Xinhua
24 Jun 2022, 00:14 GMT+10

HARARE, June 23 (Xinhua) -- Zimbabwean President Emmerson Mnangagwa commended Chinese companies Thursday for their investment in the southern African nation.

Mnangagwa was speaking after touring the Gweru-based Sino-Zimbabwe Cement Company, which he commended for expanding its operations in Zimbabwe.

"I commend investors from the People's Republic of China, herein represented by Sino-Zimbabwe Cement Company for investing in Zimbabwe," he said.

Sino-Zimbabwe, currently operating at 90 percent capacity utilization, is the third-largest producer of cement in Zimbabwe.

"Your investments in not only cement manufacturing, but also in a brick manufacturing company which produces high-quality face bricks and tensile bricks, is commendable," Mnangagwa said.

He urged the company to continue taking advantage of the boom in Zimbabwe's construction industry to grow its business.

The Zimbabwean economy has transitioned from stabilization to growth and the government will continue to aggressively woo investors to boost economic growth, Mnangagwa said.

He said several sectors of the economy were experiencing growth, including the manufacturing sector whose capacity utilization continues to grow and now stands at 75 percent.

The growth in the manufacturing sector, partly driven by a stable macro-economic environment, has resulted in locally produced goods occupying 75 percent of shop shelves, in line with the "Made in Zimbabwe" and "Buy Zimbabwe" initiatives, Mnangagwa said.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.

More Information

null in null

Business

Section

Wall Street diverges, but techs advance Wednesday

NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...

Greenback slides amid tax bill fears, trade deal uncertainty

NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...

Taliban seeks tourism revival despite safety, rights concerns

KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...

Nvidia execs sell $1 billion in stock as AI boom drives record prices

SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...

Tech stocks slide, industrials surge on Wall Street

NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...

Canada-US trade talks resume after Carney rescinds tech tax

TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...

Construction

Section