Zimbabwe businesses invited to invest in new oil & gas hotspot

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In a bid to foster closer relations with Zimbabwe, Guyana President, Dr. Irfaan Ali extended an invitation for businesses there to come take advantage of the South American nation’s investment opportunities.

President Ali made the call as he accepted Letters of Commission from Ignatius Graham Mudzimba as Non-Resident Ambassador Extraordinary and Plenipotentiary of the Republic of Zimbabwe and Letters of Credence from Mario Chan as the Non-Resident Ambassador Extraordinary and Plenipotentiary of the Republic of the Philippines to Guyana on Tuesday.

Partnerships with like-minded countries are key elements to achieving the sustainable development goals of eradicating poverty, ending hunger, achieving food security, improving nutrition and promoting sustainable agriculture.

Emerging oil producers Guyana and Ghana ink string of cooperation agreements

In that regard, President Ali outlined to the Zimbabwean Ambassador that there is scope for the two nations to create a “practical framework” aimed at enhancing bilateral cooperation in areas of mutual expertise.

“I also would like to encourage visits from Zimbabwean companies to explore joint ventures and investments in Guyana,” Mr. Ali said. “We also stand ready to enhance our collaboration with Zimbabwe at the multilateral level to advance the interests of our two countries and regions on issues high on the international agenda, particularly those relating to climate change.”

Guyana’s Office for Investment (GO-Invest) has already published an investment prospectus which outlines 55 areas government wants investors to go after, with a promise of generous tax breaks and fast-tracked approvals.

Guyana is open for business – 55 areas ripe for investment

The investment opportunities are spread across the categories of agriculture, energy, forestry, information and communications technology (ICT), manufacturing, mining, services, tourism, and housing. And according to the Guyana Head of State, Zimbabwe can be an excellent partner for Guyana in the agriculture sector, along with the education and tourism sectors.

Minerals, gold and agriculture are the main foreign exports of Zimbabwe.

Tourism also plays a key role in its economy.

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