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US government confident of Zim economic recovery

THE US government is confident of Zimbabwe’s economic recovery this year going forward and stands ready to support American companies keen to invest in the country.

 

US Ambassador to Zimbabwe, Mr Brian Nichols, said this on Monday in remarks to officially open the inaugural US Department of Commerce Post-Reconstruction Trade Mission to Zimbabwe and Mozambique, which was hosted virtually.

The positive sentiments are a significant shift from strained bilateral relations between Harare and Washington in the past years, which saw the US imposing sanctions on Zimbabwean businesses and key leaders.

 

Amb Nichols noted positive outcomes of the re-engagement stance taken by the New Dispensation led by President Mnangagwa since 2018, but said more loose ends need to be tightened for realisation of mutual gains.

He described Zimbabwe as a “country with incredible untapped potential”, citing the abundant natural resources, vibrant and skilled human capital base, as well as favourable climate for both agriculture and tourism economy.

 

These present huge commercial opportunities for American investors and the generality of locals, said Amb Nichols, who stressed the need to tackle inherent bottlenecks that impede progress.

 

In particular, he said the “corruption and economic policies” under the late former President Robert Mugabe, had caused “economic devastation” whose scars have distorted the economy and still impact day-to-day business.

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