Germans eye energy sector

via Germans eye energy sector – NewsDay Zimbabwe October 22, 2015

A GERMAN business delegation is in the country on a fact-finding mission as they seek to invest in the energy and infrastructure sectors, head of the delegation, Christoph Kannengiesser, said yesterday.

BY VICTORIA MTOMBA

Speaking at a Zimbabwe-Germany government roundtable, Kannengiesser said they had come to assess the country’s legislation and see if it is conducive for German businesses.

“We would want to learn the legal framework, how labour law markets work, (how) the business climate works here. Generally the situation is favourable for more growth,” he said.

Kannengiesser said the investment time frames would be determined by the sectors they would have selected.

“We can see the ambition of the Zimbabwean government to do reforms in the economy. We would want to discover what the new opportunities are,” he said.

This is the second delegation from Germany to Zimbabwe.

German ambassador to Zimbabwe Ullrich Klockner said businesses in the European country want to know if they are welcome here. He said relations between Zimbabwe and Germany over the past two to three years had improved.

Macro-economic Planning minister Obert Mpofu said he was confident that the relations between the two countries would grow.

“I am humbled by the presence of such big German companies at this meeting and as the minister responsible for investment, I am convinced that the investment future of our country is bright.

“This is so, as the government of Zimbabwe is vigorously and is highly motivated in partnering with investors to help us to achieve the objectives of our economic national blueprint Zimbabwe Agenda for Sustainable
Socio-Economic Transformation,” he said in a speech read on his behalf by his deputy, Monica Mutsvangwa.

Zimbabwe has been lagging behind its regional peers in terms of foreign direct investment due to unfavourable policies including the controversial indigenisation law and poor ranking in the ease of doing business rankings.

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