Zimbabwe’s drive to lure investment has attracted the attention of many as now Saudi Arabia has shown interests in Zimbabwe. They have revealed plans to set up an embassy in Harare and incorporating the country into the Saudi Development Fund.
He had a meeting with President Mnangagwa at State House in Harare yesterday to show Saudi Arabia interests in Zimbabwe.
It was my privilege to welcome to Zimbabwe Saudi Arabia’s Minister for Africa, Ahmed Kattan. The potential for trade between our two nations cannot be understated. I look forward to growing our cooperation and investment in the coming years.Tweeted President Mnangagwa.
The kingdom dispatched a high-powered delegation led by Minister Kattan. They intend to scout for opportunities in mining, agriculture, tourism and infrastructural development. They want to strengthen diplomatic and trade ties between the two countries with Saudi Arabia having interests in Zimbabwe.
With a gross domestic product of about US$700 billion, Saudi Arabia is one of the world’s top 20 economies. Harare was now dealing with big capital in its quest to attain an upper middle income society by 2030 as shown by he growing interest in doing business in Zimbabwe.
Mr Kattan, said his country was keen on scaling up diplomatic relations with Zimbabwe, after his meeting with President Mnangagwa. Beginning by setting up a local embassy, helping the country address its humanitarian needs through the Saudi Development Fund.
The Saudi Fund finances close to 4 000 projects in more than 70 countries. Access to the fund will help Zimbabwe navigate the effects of Covid-19.
Saudi Arabia recently donated US$500 million to help the world respond to the challenges posed by Covid-19.
Mr Kattan said he had conveyed the greetings of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman bin Abdulaziz and their warm wishes for prosperity to “the friendly people of the Republic of Zimbabwe”.
Mr Kattan’s message
I reconfirmed the Kingdom of Saudi Arabia’s keen interest in strengthening its relations with the Republic of Zimbabwe in light of the Kingdom’s vision 2030, including in the areas of trade and investment.
I assured His Excellency (President Mnangagwa) that we are ready to present to His Excellency King Salman the humanitarian and aid relief sent to Zimbabwe’s urgent humanitarian needs for assessment and to continue our cooperation through supporting development projects by the Saudi Fund for Development which included the area of communication.Mr Kattan
The two countries have decided to sign an agreement to establish diplomatic relations.
Dr Sibusiso Moyo, Foreign Affairs and International Trade Minister,said the visit by the Saudi delegation was a major milestone.
Dr Moyo said the two countries wish to enhance the level of cooperation. Bilateral relationsto be made particularly in trade and investment cooperation.
Dr Moyo noted that Zimbabwe is endowed with resources and Saudi Arabia was a great market.
Potential investments are also available in sectors such as agriculture, mining, tourism and infrastructure development.
“There is, for example, the Saudi Development Fund, whose function is to consider the viability of such kind of projects which Zimbabwe would consider as a priority,” said Dr Moyo.