Non-Resident Ambassador of the Republic of Zimbabwe to Nepal Stella Nkomo has said there is a lot of investment opportunities for Nepali businessmen in her country.

Speaking at the second round table meeting on Nepal-Zimbabwe Economic Partnership, organized by Asian Institute of Diplomacy and International Affairs (AIDIA), the Ambassador invited Nepali businessmen to invest in Zimbabwe as the country offers tax benefits, and easy repatriation of profits.  The first round table was organized in 2018.

“The investors can repatriate 100 percent of their profit,” she said, presenting the opportunities for investment in Zimbabwe. She said that energy, technology transfer and telecommunications where two countries can build up an enhanced collaborations.

Speaking on the occasion, AIDIA founder Sunil KC said that there are many areas of joint investment and collaborations between two countries. Stating that the trade between Zimbabwe and Nepal is very negligible at present, KC opined that there is a huge potential for trade and economic activities to grow.

Nepal and the South African country Zimbabwe established formal diplomatic relations on 27 November 1984. Since then, the two countries have maintained cordial relations, though their bilateral engagements remain limited. There is potential for enhanced cooperation in areas such as trade, investment, and cultural exchange.

Like Nepal, Zimbabwe has a potential for hydropower development, though Zimbabwe’s economy is mostly dependent on mines and minerals.  Nepal can export textiles and handicrafts to Zimbabwe as Nepal has expertise in these sectors. Nepal has more potential to expand exports of traditional goods to Zimbabwe. Participants who were from Nepal’s business community shared their views on possible areas of cooperation between two countries.