Investment expectation high as Xi arrives in Zimbabwe

Updated: 2015-12-01 16:53

By ZHAO HUANXIN in Harare(

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Investment expectation high as Xi arrives in Zimbabwe

Chinese President Xi Jinping, left, walks with Zimbabwean President Robert Mugabe upon arrival for a state visit in Harare, Zimbabwe, Dec 1, 2015. [Photo/Xinhua]

In anticipation of Xi's visit, expectations for Chinese investment in Zimbabwe have been high.

"In pursuit of our national development objectives, Zimbabwe welcomes investment from the Chinese community," Xinhua News Agency quoted Industry and Commerce Minister Mike Bimha as saying at a Zimbabwe-China investment conference in Harare last week.

Another minister, Obert Mpofu, who is in charge of the country's macroeconomic planning and investment promotion, said: “The Chinese president will make a difference to our trade relations with China in a manner that is sustainable, in a manner that will attract many investors to Zimbabwe."

Chinese investment in Zimbabwe amounted to $601 million in 2013, the African country that received the most investment that year. Bilateral trade exceeded $1.2 billion in 2014, according to statistics from the Chinese embassy in Harare.

Following his Zimbabwe visit, Xi will continue to South Africa, where he will attend and co-chair the Summit of the Forum on China-Africa Cooperation with South African President Jacob Zuma in Johannesburg.

It will be the second summit in the 15-year history of FOCAC, and the first on the African continent.