President Mnangagwa declares Zimbabwe a safe destination for capital, investors, visitors

Harare, (New Ziana) –Zimbabwe will always be a safe destination for capital, investors and visitors, President Mnangagwa on Monday said on Monday.

He said this during the commissioning of Hyatt Regency Harare, formerly Meikles Hotel, as the iconic 109-year-old hospitality facility formally changed hands in a deal involving US$30 million refurbishment under the ownership of the United Arab Emirates (UAE) based Albwardy Investments.

Albwardy Investments is a holding company founded in 1976 by UAE national, Ali Saeed Juma Albwardy, who is the chairman.

It has an annual turnover in excess of US$1 billion and operates a number of businesses ranging from food retailing, food distribution, construction, engineering, and in the hospitality and hotel industry.

Welcoming the entry of the Hyatt Regency brand to what he termed ‘Brand Zimbabwe, World of Wonders’, President Mnangagwa said it shows investor confidence in the immense potential of Zimbabwe, its people, culture, and hospitality industry.

He said the arrival of Hyatt Regency will contribute to the country’s drive to achieve a US$5 billion tourism economy by next year, accelerating the attainment of the national vision to become an upper-middle-income society by 2030.

“In this regard, the Tourism and Hospitality industry is a critical cog in our national development agenda, being the third largest contributor to the national GDP (Gross Domestic Product). A comprehensive Tourism and Hospitality Industry Growth Strategy is being implemented, which recognizes both domestic and international tourism as key driver to the growth and expansion of the sub-sector.

“The division of the sector into clusters is commendable and set to enhance targeted and efficient tourism development. I challenge the various clusters tasked with developing and growing business tourism, sports tourism, culture and heritage tourism as well as medical tourism, among others to make concerted efforts with clear timelines, to grow the industry.”

President Mnangagwa called for innovation as the country broadens tourism products by having a highly trained and efficient workforce, pegged against global best practices supported by the requisite modern physical infrastructure with the Hyatt Regency Harare Hotel being one of them.

The hotel is expected to contribute to employment creation, skills development and the upliftment of local communities by supporting local businesses.

On its part, President Mnangagwa said the government is committed to give the necessary support including through mechanisms such as the Tourism duty-free Facility which benefited the refurbishment of the Hyatt Regency Harare Hotel.

“Meanwhile, I am pleased to state that the Hyatt Regency Harare Hotel is one of the facilities we have deemed suitable to host delegates attending the SADC Summit, in August this year. Such an endorsement amplifies the fact that we are proud, as a government and country, to be associated with this brand and the facilities at this hotel,” he said.

He challenged the Ministry of Tourism and Hospitality Industry and other stakeholders in the sector to have a more coordinated approach, regarding the projection of the country’s tourism products and brands meant to increase Brand Zimbabwe’s attractiveness along with its natural resources and cultural heritage.

“The new opportunities that have been unveiled as a result of my government’s Foreign Policy thrust of engagement and re-engagement under the mantra ‘Zimbabwe a friend to all and an enemy to none should be harnessed to further scale up tourism investment and arrivals,” he said.

“Cultural exchanges and people-to-people relations should be promoted, while our collective capacity to hold regional and international conferences and meetings should be strengthened. We remain optimistic that the entry of the Hyatt Regency Harare Hotel will give more confidence to other international hotel brands to invest in Zimbabwe. Further, we look forward to hosting high profile events in our jurisdiction through your initiatives and linkages.”

New Ziana