Spanish investors to visit Zim

via Spanish investors to visit Zim | The Herald October 9, 2015

INFRASTRUCTURE and technology multinationals from Spain are expected in the country soon to explore investment opportunities as the European country sees potential in Zimbabwe.

Already there are talks of collaboration between Zimbabwe and Spain in the tourism sector as the Spanish Embassy steps up efforts to help turnaround the economy. Some of the companies expected to come are from the energy, infrastructure and technology sectors.

There are more than 100 Spanish companies in neighbouring South Africa and Spanish Ambassador to Zimbabwe Mrs Alicia Moral is looking to entice them to cross the Limpopo.

In an interview ahead of the occasion of the Spanish National Day, Mrs Moral said her mission is to bring investment into the country.

“An important part of my mission here will be to bring more business, more trade and investment,” said Mrs Moral. “There are more than 100 Spanish companies in South Africa so I intend to approach them and talk to them and show them the opportunities in Zimbabwe. I want to do that in the next few months. As Ambassador I will encourage them to invest here,” she said.

Mrs Moral believes that Zimbabwe’s reengagement with the international finance institutions and reforms that are being undertaken by Government will help the country move forward. She sees future in the economic field.

“The near future of Zimbabwe is very promising. The international community, including the European Union, is trying to support Zimbabwe’s reform process and economic turnaround. Spain is also there lending support and we will be very happy if Zimbabwe moves forward,” said Mrs Moral.

Among the companies Mrs Moral is targeting are large energy generators. Spain is Europe’s leading generator of wind power and the fourth worldwide in terms of installed capacity. It has the third largest capacity in photovoltaic solar power in Europe and the fourth in the world. It has the world’s largest installed solar thermal power capacity. It boasts of one of the world’s five largest electricity companies in the world and the first and largest integrated natural gas and electricity firm in Latin America.

Ambassador Moral said renewable energy sub sector is enticing for Spanish companies.

“One of the sectors which is interesting and attractive to Spanish companies is renewable energy. Spain is very strong in that. We have many companies related to solar and wind energy. We have an added advantage in that,” she said.

Other companies in the infrastructure sector are also expected. The world’s top three companies in transport infrastructure management in terms of the number of concessions related to roads, railways, airports are from Spain.

“A Spanish company constructed the high speed train between Medina and Mecca in Saudi Arabia, the Tunnel of Panama. We have very big companies in infrastructure,” Ambassador Moral said.

She said the tourism sector is also appealing to Spanish companies.

“We have already started talks about the possibility of cooperation in tourism. We can benefit mutually Zimbabwe and Spain. There are many opportunities that we could explore together,” she said.

“For a few years Zimbabwe was far away from Spain. The image was not very good. And that is part of my work here to change the image and to encourage companies to come here. There is a lot of potential here.

Zimbabwe is very attractive in many aspects. The image of Zimbabwe is changing,” said Mrs Moral.