HARARE, Oct. 18 (Xinhua) -- A new research by a Zimbabwean think tank has revealed that Chinese investments in Zimbabwe have brought a positive trajectory for the country's economic development.
Conducted by the Ruzivo Media and Resource Center, the study sought to look at how Chinese investments, both by the state and by private companies, have impacted Zimbabwe.
The study was presented at a seminar on Chinese investments in the capital city Harare on Monday.
"In terms of our research, we interacted with colleagues from business associations and so forth, and we found out that there are more than 250 Chinese businesses operating in Zimbabwe as of 2022, with businesses ranging from state-linked and large corporations to small private investments." Tichaona Zindoga, Founder of Ruzivo Media and Resource Center said.
The study revealed that Chinese investments in Zimbabwe have now reached up to 10 billion U.S. dollars, while employment by Chinese enterprises is over 100,000.
Meanwhile, the study showed that Chinese companies in Zimbabwe have undertaken massive and diverse portfolios of corporate social responsibility programs.
Speaking at the seminar, the Chinese Ambassador to Zimbabwe Guo Shaochun assured China's commitment to Zimbabwe's development.
"China encourages more well-established and capable Chinese companies to invest in Zimbabwe, contribute to Zimbabwe's development, and improve the volume and the quality of investment. We are pleased that Chinese private investments are becoming vital forces in promoting Zimbabwe's economy."
For his part, Zimbabwean Minister of Foreign Affairs and International Trade Frederick Shava said bilateral cooperation between Zimbabwe and China is bearing fruit.
"The Chinese business enterprises have contributed significantly to overall economic growth and increase in the Gross Domestic Product of the country through the creation of employment, infrastructure development, and modernization of the agriculture sector among others."
Produced by Xinhua Global Service
