South Korean Giants Eye Zimbabwe Investment

According to the Prime Minister’s website, representatives of the South Korean companies on Monday met Prime Minister Morgan Tsvangirai to express their interest in investing in Zimbabwe.

The business delegation told Tsvangirai that their companies wanted information on Zimbabwe’s investment climate and other relevant material for them to make informed decisions. Some of the businesspersons will sign Memoranda of Understanding with Zimbabwean companies before they leave for South Korea.

The visit by the South Koreans follows Tsvangirai’s investment hunting trip to that Asian country in May this year where he signed a Bilateral Protection and Promotion Agreement.Tsvangirai’s delegation to Seoul in May included Science and Technology Development Minister Heneri Dzinotyiwei, Energy Minister Elias Mudzuri and Small Enterprises Minister Sithembiso Nyoni.

“We have been discussing potential areas of interest in business. Some of the key Korean companies such as Hyundai, Samsung, Daewoo are part of this delegation. We had very productive exchanges,” said Tsvangirai.

The South Koreans expressed interest in mining, construction and technological fields.Technological giant, Samsung’s business activities span advanced technology, semiconductors, skyscraper and plant construction, petrochemicals, fashion, medicine, finance, hotels, among many other investments.

Samsung electronics is the company’s flagship and is involved in high-tech electronics manufacturing and digital media.

Also represented at the meeting was another technology company, Daewoo, which is involved in the manufacture of a range of domestic appliances including refrigeration, laundry, microwaves and floorcare, the options are vast. Daewoo is also involved in the manufacture of motor vehicles.

Tsvangirai told the investors that Zimbabwe was ripe for investment. He said Zimbabwe was hunting for investors and was establishing a one-stop-shop investment centre for ease.