InvestHK deepen ties with Zimbabwe in new investment pact

They will support companies seeking to establish or expand operations.

Invest Hong Kong and the Zimbabwe Investment and Development Agency have signed a memorandum of understanding to promote investment between Hong Kong and Zimbabwe.

The agreement was exchanged on 9 September during the 11th Belt and Road Summit in Hong Kong.

Under the agreement, the agencies will promote inward and outward investment and exchange information about their respective business environments and investment opportunities.

They will also share investment-promotion experience and assist companies seeking to establish or expand operations in Hong Kong or Zimbabwe.

Lau said the partnership forms part of Hong Kong’s effort to deepen its engagement with Africa and the Global South under the Belt and Road Initiative.

InvestHK intends to connect Zimbabwean and other African companies with capital, professional services and business opportunities in Mainland China and wider Asian markets through Hong Kong.

The partnership will also support Chinese companies exploring investment opportunities in Zimbabwe and other parts of Africa.

ZIDA Chief Legal Officer Theresa Muchinguri said the cooperation would facilitate introductions between international investors and business opportunities in Zimbabwe, with the partnership’s success depending on whether these connections translate into implemented investments.

The agreement follows an InvestHK mission to South Africa and Rwanda in May, which included meetings with businesses, industry groups and government investment agencies.