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DTI: Invest in Zimbabwe

Mar 27 2012 09:59 Sapa

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Johannesburg - South African business people must take advantage of the improving economic situation in Zimbabwe and invest in that country, Deputy Trade and Industry Minister Elizabeth Thabethe said.

"Zimbabwe has been carrying out economic and structural reforms, which have improved economic performance and sustained growth," she said in a speech prepared for delivery at an SA department of trade and industry business seminar in Harare on Monday.

"Since 2009 Zimbabwe has had positive growth rates above 5% per annum, reaching 5.9% in 2010," she said.

Investment in infrastructure development in Zimbabwe would have a high rate of return and lead to an increase in demand for manufactured and capital equipment.

"There are enormous opportunities in the development of the continent's vast resources, and the creation of critical infrastructure in roads, railways, ports and utilities."

She said trade between the two countries stood at R20bn in 2011. Since 2003, South African companies had invested more than R10bn in development projects in Zimbabwe.

These projects had contributed to the creation of more than 2 000 jobs in the country's metals, minerals, tourism and financial service industries.

 
dti  |  elizabeth thabethe  |  zimbabwe

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