Chiwenga invites Zimbabweans in diaspora to invest in Zimbabwe

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Zimbabwe’s community in the Diaspora has an important role to play in the national development of the country and initiatives for the attainment of Vision 2030, Vice President Constantino Chiwenga said yesterday.

The Second Republic, after coming into office in November 2017, set itself the target of building the economy and transforming Zimbabwe into an upper middle income economy, also known as Vision 2030, with per capita income of at least US$3 400.

VP Chiwenga said in line with National Development Strategy (NDS1) objective of devolving Diaspora initiatives the Ministry of Foreign Affairs and International Trade had toured Zimbabwe’s 10 provinces to appreciate projects being undertaken by the Diaspora. This would give insights into projects open for uptake and investments by the Diaspora across all regions. This will entail engaging all line ministries and provincial ministers of devolution to appreciate initiatives which the Diaspora can partake in.

Government has deployed funding in each province for key projects, into which members of the Diaspora can also direct their savings for a profitable return. He implored Zimbabweans outside the country to invest in agriculture, mining, energy and power, manufacturing and infrastructure development.

“It is in those projects that we want you also to take part,” the Vice President said this could be done through Foreign Affairs and International Trade Ministry.

He said there were many avenues through which the Diaspora can participate Zimbabwe’s development, including trade promotion, markets for each province, Diaspora investments, knowledge and skills transfer, Diaspora remittances and philanthropic initiatives.

Addressing Zimbabweans in the Gulf Region in Dubai, United Arab Emirates (UAE), where he is scheduled to attended the Global Business Forum Africa (GBFA) tomorrow and on Thursday on the sidelines of Expo 2020 Dubai, the Vice President said Vision 2030 would definitely be achieved.

He said Government had adopted the policy decision to take advantage of every opportunity of the presence of senior Government officials abroad to meet and interact with the Diaspora in order to listen to the concerns, aspirations and dialogue for mutual benefit.

Chiwenga did not shed light on incentives designed to attract Zimbabweans to put their money back home. Neither did the VP dispel fears of the Diaspora over the government’s tendency of stripping citizens of their hard earned foreign currency.

A Representative of the Zimbabwe Exiles Forum who prefered to remain anonymous said the CHiwenga’s invitation does not instil confidence in the hearts of Zimbabweans in Diaspora.”The challenge of investing in Zimbabwe is that the economy is upside down. Investments made in foreign currency becomes valueless in Zimbabwe as it pegged on the worthless bond currency.” he said.

He added: The government has a tendency of raiding foreign currency bank accounts. So it defeats logic to invest any US dollar in Zimbabwe at the moment.”

Herald