Lew said an unstable situation in Zimbabwe was “keeping economic relations from developing rapidly”, although he said there was great potential for the expansion of trade between the two countries.
“Generally, our relations with Zimbabwe are quite good. However, the economic relations still stand at a low level. I think Zimbabwe needs to put in place more business friendly policies and soon as that happens, I am sure Korean investors would be willing to come and invest here. Investors need enough confidence before they can come and invest in Zimbabwe,” said Lew.
He said the next elections were critical as far as attracting foreign direct investments to Zimbabwe was concerned.
Lew said Korean investors were skeptical of the business environment in Zimbabwe and were waiting to see of the next elections would usher in a new operating environment for international businesses.
“I think the elections are very significant. We do not know who will win but we hope the new government will be friendly and also introduce laws and regulations that would attract investors. “There are Koreans who are ready to invest in agriculture, infrastructure building and tourism. However, they have not yet made their decisions because of an unstable environment. They are still examining the possibility of doing business in Zimbabwe,” said Lew.
Lew said his country was committed to assisting the humanitarian situation in areas such as health, education, agriculture as well as water and sanitation.
He said his country would continue to give assistance in the training of professionals in various sectors.
Lew applauded the political situation prevailing in Zimbabwe ahead of election scheduled for July 31.
“Presently, I think the situation is quiet and we just hope it continues like that. The outcome of the election is critical in creating an enabling environment that will raise the confidence of international investors,” said Lew.
Post published in: News