Mishma Chakanyuka, Staff Writer 
INDIAN ambassador to Zimbabwe, Vijay Khanduja, says investments in Zimbabwe by citizens of his country have grown significantly over the years on the back of improving relations between the nations.
Speaking on the sidelines of the commissioning of the Varun Beverages Zimbabwe water and bottles closure plants, Khanduja applauded the government of Zimbabwe for providing a conducive environment for businesses to invest and grow in the country.
“We have seen a manifestation of the fact that Zimbabwe is indeed open for business. Varun Beverages is also an example of a successful Indian investment in Zimbabwe and the Indian companies present here are the real ambassadors, they are present over a long term,” Khanduja said.
“They provide direct employment to around 10 000 Zimbabwean nationals and they have shown faith in the Zimbabwean economy by their business. The investments are a strong pillar of India and Zimbabwe’s friendly relationship which dates back to centuries. The relationship has grown significantly in the last few years.”
Zimbabwe has over the years benefited from support from India mainly in local education, energy, health and manufacturing sectors.
Recently this year, Vijay Khanduja, also revealed that companies from his country are eager to seize investment opportunities in Zimbabwe’s energy sector and help alleviate southern Africa’s crippling power crisis.
Khanduja said several companies have announced investment plans, while others are in the process of identifying locations for investment.
“During the visit of the Vice President of India, Shri Venkaiah Naidu, to Zimbabwe in 2018, the government of India had announced the extension of three lines of credit for Deka Pumping and River Water Intake System (US$48,1 million), refurbishment of Bulawayo Thermal Power Plant (US$110 million) and that of Hwange Thermal Power Plant (US$310 million).
“These are all linked to the energy sector and there is considerable progress in all of these. The recent announcement by the government of Zimbabwe to underwrite power purchase agreements and to allow repatriation of dividends will certainly make the sector more attractive for investors,” he said.
Khanduja also highlighted that the embassy of India in Harare remains committed to facilitating and encouraging more trade and economic linkages between our two countries.
“We look forward to more robust Indian investments. The embassy continues to provide positive feedback and facilitate investments from India to Zimbabwe,” he added.
Apart from the energy sector, Khanduja said several Indian construction companies have already begun projects in the country.
“The companies would do due diligence either through in-house expertise or through specialised firms, but the investors are exploring Zimbabwe with much interest. We have the presence of several Indian companies, some of which have come to Zimbabwe by winning international tenders,” he added.
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