US-Zimbabwean Diaspora Set To Acquire 100 Square Kilometers Of Land To Develop Biotech City
A group of American-based diaspora experts have signed a memorandum of understanding with the Zimbabwe Investment and Development Agency (ZIDA) to construct a multibillion-dollar biotech city in Zimbabwe.
The group of experts, who have a long history and have made significant contributions to the biotechnology industry in the US and elsewhere, met with the President of Zimbabwe Emmerson Mnangagwa in New York before the agreement was formally signed, as reported by the Zimbabwean newspaper, The Sunday Mail.
Dr. Tawanda Gumbo signed the contract on behalf of the consortium, while Mr. Tafadzwa Chinamo, CEO of ZIDA, signed the document on behalf of the organization. Minister of Finance and Investment Promotion Professor Mthuli Ncube was present for the signing event.
Following the meeting with President Mnangagwa, it became known that these experts had established a consortium made up of associated businesses and infrastructure that was financed by a partnership between Zimbabwean and diaspora corporations.
Professor Ncube stressed that the consortium is part of a bigger community of Zimbabweans living abroad who are keen to return and establish a biotech city in their native country. He also emphasized the significance of being prepared for emergencies and the lessons learned during the COVID-19 epidemic.
“Covid-19 has taught us a lot about the need to be prepared for emergencies. Their ideals dovetail with his excellency, the president’s way of doing it on our own to achieve the vision of upper-middle-income economy by 2030,” Ncube said.
Dr. Gumbo, the CEO of the US-based enterprise Investments in Manufacturing, Production, and Infrastructure Incorporated, emphasized the accomplishments of Zimbabweans in the biotechnology industry, which have inspired them to return to Zimbabwe with their knowledge and technology. He disclosed their plans to acquire nearly 100 square kilometers of land for the development of the biotech city and expressed delight at President Mnangagwa’s dedication and backing.
Dr. Gumbo, a retired physician and former consultant for Wall Street, also said that the consortium and ZIDA are closely collaborating on the intricate elements of the large-scale project. They see this as a chance to return essential skills and expertise to Zimbabwe, and they want to start operations as early as February of the next year.
“We are looking to set up shop as soon as possible, as early as February next year. We see this as bringing back to Zimbabwe, some of the skill set we learned outside,” he said,
In industrialized countries, biotech cities, also known as biotech centers or parks, are widespread. In one integrated site, these hubs house businesses engaged in a variety of industries, including biopharmaceuticals, bio laboratories, medicines, information technology, engineering, and research
-Business Insider-
