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Zimbabwe Prime Minister Tsvangirai Heads To South Korea Seeking Investment

  • Ntungamili Nkomo

Western nations have withheld development aid pending more convincing reform in Harare while foreign investment has been discouraged by the indigenization and black empowerment program Harare is now deploying

Zimbabwean Prime Minister Morgan Tsvangirai was schedule to embark on Saturday on a trip to South Korea where he hopes to generate interest among investors there in opportunities in the Southern African country.

Western nations have withheld development aid pending more convincing reform in Harare while foreign investment has been discouraged by the indigenization and black empowerment program the government is deploying.

Both Mr. Tsvangirai and President Robert Mugabe have tried to reassure investors, but to little avail given the high level of uncertainty around the share stake the government will require to be allocated to black Zimbabweans.

Mr. Tsvangirai’s delegation to Seoul is to include Science and Technology Development Minister Heneri Dzinotyiwei, Energy Minister Elias Mudzuri and Small Enterprises Minister Sithembiso Nyoni of Mr. Mugabe's ZANU-PF.

Minister of State Gorden Moyo, attached to Tsvangirai’s office, told VOA Studio 7 reporter Ntungamili Nkomo that his boss is hoping to woo South Korean investors and strengthen bilateral ties with that country.

The prime minister's trip is seen as part and parcel of the Look East policy introduced by Mr. Mugabe in 2003 at a time when his government and the West were becoming increasingly alienated over human rights and other issues.

Peakford Management Consultancy Chief Executive Officer Albert Mandizvidza told VOA reporter Blessing Zulu that South Korean investors might want to put capital to work in Zimbabwe if the terms are attractive.

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