Zimbabwe woos UAE investors on $8.2billion Agribusiness Project

The government of Zimbabwe has invited investors of the United Arab Emirates (UAE) to join in facilitating the country’s highly ambitious $8.2 billion agribusiness project.

Minister of Agriculture, Anxious Masuka pitched this to the investors during the UAE-Zimbabwe Food and Agribusiness Virtual Forum which was held recently.

The forum hosted by the Dubai Chamber of Commerce and Industry is aimed at exchanging ideas on the vast potential business investments existing in Zimbabwe’s agriculture sector.

While addressing the UAE investors, Masuka said that they had a lot to benefit economically by investing in the country’s agriculture sector.

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“The Agriculture and Food Systems Transformation Strategy aims to increase agricultural output to US$8.2 billion by 2025 and to grow exports to US$4.2 billion by 2025.

“We envisage export growth for flowers, fruits, vegetables and nuts,” he said, adding that the country also anticipates the accelerated exports of tobacco, tea, sugar, amongst others, this year.

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“I, therefore, urge you to explore and cultivate win-win opportunities for the mutual benefit of your companies, and ultimately our two countries,” he added.

On his part, the chair of the Dubai Chamber of Commerce and Industry, Majid Saif Al Ghurair said Zimbabwe has the potential to supply food to UAE.

“Our relationship with Africa has opened our eyes on how to further grow our business relationships especially when it comes to food security.

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“Zimbabwe’s food basket makes it a good partner to fulfill the Gulf’s food needs.

“Dubai has since changed the legislation giving foreigners 100 % ownership of the companies even outside the free zone area,” he said.

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