Russian delegation jets into Zim to deepen economi...

Russian delegation jets into Zim to deepen economic ties

**Hermes Capital executive director Olga Dzubinsky**

Patrick Musira

Russia and Zimbabwe are moving gears up on the road to deepening economic relations between both the two countries with a group of Russian private players flying into Zimbabwe to scout for investment opportunities.

“The visit is intended to strengthen and deepen the economic and trade relationships between companies on both sides,” said Hermes Capital executive officer Olga Daubinsky who was coordinating the investment engagements.

Several Russian companies from various sectors jetted into Zimbabwe this past week to explore various investment opportunities on offer.

“Establishment of Special Economic Zones in different provinces is a priority.

“We seek to establish a permanent platform to demonstrate and showcase Russian goods and services and to provide assistance on negotiations of contracts and give legal support in the Russia-Zimbabwe transactions,” Daubinsky explained during the second day of business-to-business discussions.

The Zimbabwe government has described the visit as a most significant trade initiative, with the Russian companies – both public and private – ready to establish sustainable and mutually beneficial relations and assist in Zimbabwe’s drive to attain a High Middle Income Economic status by end of the decade.

The platform is supported by the Russian Embassy that has come up with the initiative that seeks to deepen and broaden ties between the two countries whose relations date back to the 1960s when Russia was a key ally in Zimbabwe’s struggle for independence. .

Kelvin Mutede, a director in the ministry of foreign affairs and international trade, says business opportunities in both countries beckoned.

“We need to work hard on the way forward and lay concrete developments on the ground and see progress and proffer practical ways in areas of trade and commerce,” he told Zim Now on the sidelines of the meeting.

Fambai Ngirande, a researcher and development consultant, said that Zimbabwe has indeed opened up for business and it’s engagement and re-engagement efforts are bearing dividends especially as government has done much on policy reforms regarding investment and investment protection.

“From agriculture, tourism, mining to manufacturing and infrastructural development, Zimbabwe has opportunities that are ready for the taking,” Ngirande said.

Ngirande said that the country has an embarrassment of resources that calls for investors.

Dmitrii Tcukanov, deputy chief financial officer at ABZ-1, a Russian joint stock company in infrastructure development that manufactures and provides building products and asphalt mixes for road construction and repair of urban streets and squares, says Zimbabwe is the first country in Africa they have visited to view investment opportunities and that they are looking for win-win synergies.

“As a company we are ready for mutual economic cooperation between our two countries and to promote players from the respective countries,” he adds, explaining ABZ-1 had been charmed by what Zimbabwe has on offer.

“We have the expertise and we can assist, through public-private partnerships and collaborate and partner on various projects and ventures using various and appropriate structures from partnerships to joint ventures,” he told this publication during the meeting, adding: “What is left is serious follow-up after these engagements.”

Tafadzwa Muguti, permanent secretary in the Office of the President and Cabinet in the Harare Metropolitan Province, informed the meeting that his office had fruitful discussions with the Moscow Chamber of Commerce recently and they were abreast of these developments.

“We’re presenting tangible projects and call for partnerships and joint ventures that we hope will be productive during our next meeting in St Petersburg soon,” added Muguti, who is also chair of the committee on SEZs.

The honorary consul to Zimbabwe at the Russian Embassy Nikolai Sobolev, said that the trade and economic initiative will go a long way in cementing the close ties between the two countries in economic development.

“This trade engagement is not only very historic but also signals a new beginning,” he said.