New Zimbabwe.com

Zim diamond, tobacco sectors should turn to China-Mutsvangwa

MUTARE: Special Advisor to the President, Christopher Mutsvangwa, has said the country’s diamond mining sector should now exploit the Asian markets which now feature two of the world fastest growing economies- China and India.

Mutsvangwa made these remarks during the launch of the first ever provincial investor magazine titled “Invest in Manicaland Province” held in the eastern border city.

He said Manicaland has the potential to supply diamonds to China a country which global economists have said has a fastest growing demand for jewellery and cosmetics.

“Local diamond mining companies should re-engage with the Chinese market as there is a growing demand for diamond jewellery and cosmetics.

“In China alone, roughly half of the estimated 1, 2 billion people are women and global speculation indicates that there is a rise in the demand for jewellery. As Manicaland, your diamond companies have a duty to exploit that market and bring business and foreign currency into Zimbabwe,” said Mutsvangwa.

He said the demand for diamond encrusted jewellery in Asia would hypothetically generate Zimbabwe an excess of $600 million for country.

Turning to agriculture, Mutsvangwa said Zimbabwe produces a high quality golden tobacco leaf which is internationally graded just slightly below the Cuban Havana leaf and other South American grades and it can cater for more than 400 million habitual smokers in China.

“During my tenure in China, I noticed that a number citizens are smokers. As Zimbabwe, we happen to be globally competitive in terms of tobacco farming and we produce a high quality golden leaf which we should be using to create an economic boom,” said Mutsvangwa.