German firm on investment fact-finding mission

Source: German firm on investment fact-finding mission | The Herald August 18, 2018

Elita Chikwati Senior Reporter
A German company is scouting for investment opportunities in Zimbabwe in the transport, mining and construction industries.

In an interview after meeting with Acting President Constantino Chiwenga on Thursday, Liebherr Components AG sales director, Mr Phillip Lenz said he had visited Zimbabwe to get an understanding on the investment opportunities.

“I came here so I could understand the business environment, available opportunities and conditions of investment. This is a fact- finding mission to see if there are opportunities for us.

“The Vice-President has briefed us on the Export Processing Zones and other conditions of investments,” he said.

He said he came to Zimbabwe after an invitation from a fellow businessman who is based in Zimbabwe.

“As an individual I feel safe to be in Zimbabwe. I am impressed by the friendliness of the people of Zimbabwe. The infrastructure especially roads are better than what I thought,” he said.

Business Development representative Ms Dubre Miller said she wanted to convince him that Zimbabwe was changing and there were business opportunities.

Liebherr Components is a family business founded in 1949.

The company develops and produces mining equipment, tower cranes as well as a wide range of mobile construction cranes among other machinery.

Liebherr ompanies are located primarily in southern Germany.

Throughout Germany, a total of 16 companies develop and manufacture high-quality products that are exported throughout the whole world.

Their product range extends from construction machines, cranes, and components over machine tools and automation systems, aerospace equipment, and transportation systems right up to refrigerators and freezers.

President Mnangagwa recently launched the national investment policy statement that outlines the guidelines for investing in and harnessing the opportunities that abound in Zimbabwe.

President Mnangagwa led the concept of “Zimbabwe is open for business” by introducing a raft of economic measures aimed at  opening up the economy to both local and foreign investors. The strategy was calculated to lure investors.