France Tests Zimbabwe’s Commitment To Protect FDI

France Tests Zimbabwe’s Commitment To Protect FDI

From NewZimbabwe in AllAfrica.

The French government said it has started testing Zimbabwe’s commitment to protect foreign investments by bringing in French nationals to open businesses in the Southern African country.

France, like other European countries, has been skeptical about Zimbabwe’s controversial indigenisation and economic empowerment laws which they said were vague and worrisome.

At his residence in Harare this week, Ambassador Laurent Delahousse spoke about the official launch of a French company Mutul, operating as MoTech Africa. Delahousse said he was assured by President Robert Mugabe that their investments would be safe should they choose to invest in the country.

“Two months ago a large French business delegation visited Zimbabwe. This delegation was received for an hour-and-a-half by His Excellency. The delegation met nine members of the government,” Ambassador Delahousse said to diplomats and business leaders.

“I want to see in this openness to Zimbabwe, a very strong willingness to welcome entrepreneurs and partners in Zimbabwe.”

Motul is a French company specializing in the production and distribution of high-tech engine lubricants, including products for passenger cars, trucks, motorcycles and marine engines.

The company also produces lubricants for industrial machinery.

Speaking at the same event, Acie Lumumba, an assistant at Vice President Emmerson Mnangagwa’s office said the French company’s move was “clear” testimony that things were starting to shape up.

Read more at AllAfrica.