‘Mega deals will remain pie in the sky’

via ‘Mega deals will remain pie in the sky’ – NewsDay Zimbabwe May 13, 2015 by Moses Matenga

THE main opposition MDC-T yesterday described President Robert Mugabe’s recent effort to engage Russia, Japan and China for “mega” economic deals as a desperate attempt to cover up his government’s failed economic policies, adding the so-called deals would remain “mega pies in the sky”.

Mugabe and several government officials have over the past few months been to different countries with the hope of raising funds to resuscitate the economy and inject a new lease of life into the fast-collapsing industrial sector.

“These so-called mega deals are, in actual fact, mega pies in the sky. They will never see the light of day,” MDC-T spokesperson Obert Gutu said.

He added: “No serious entrepreneur wants to do business with the thoroughly discredited and unpredictable Zanu PF regime. This is a regime that changes goal posts in a flash.

“They indicate left and then suddenly turn right. They have got absolutely no respect for the rule of law and zero respect for property rights. They are driven by greed and plunder. Modern-day business is built on trust, honesty and integrity.

“Just look at the Chinese, for example, they mean serious business, they will never put their money into any business project before carrying out a thorough due diligence. The Zanu PF brand is damaged goods. It will never attract any concrete and major business deals. It‘s as simple as that.”

Mugabe recently signed deals worth more than $4 billion with the Chinese and penned another $4 billion deal with Russia early this week.

Analyst Takura Zhangazha said: “The bilateral trade and investment agreements that the government has been signing with its Russian and Chinese counterparts while late in kicking off will probably do so, mainly because it is the Chinese and Russians who appear keen on these deals in order to acquire either raw materials or exploit to the maximum the Zimbabwean market for their own profit.

“As a result, any potential gains for Zimbabwe will largely be determined initially by how much these investors actually make as opposed to how our government has negotiated with them in the nation’s best public interest. The proof will be in the pudding,” Zhangazha said.