OREANDA-NEWS. April 13, 2011. A delegation of MCC Group paid a visit to Zimbabwe. During the visit, the delegation conducted discussions on friendly cooperation in construction projects in Zimbabwe with the relevant ministries. Entrusted by MCC Group, Zhang Peiyi, Chairman of MCC Tiangong Construction Co., Ltd. (CMTCC), and Jia Ningchuan, Chief Representative of MCC Group in Southern Africa, acted as the Chief and Vice Chief of the mission respectively, reported the press-centre of MCC.

The Ministry of Defense (MOD) holds a distinctive position in Zimbabwe, and has been playing a unique role in the construction market, that the other ministries could not be capable of doing so. Therefore the MOD officials mentioned that, they could act as the leading force and coordinate with the other ministries, and have the abovementioned works to be contracted as a whole. They expected to obtain the preferential loans from Chinese Government or the buyer's credit to finance for the project implementation.

After intensive view-exchange and negotiation, both parties eventually entered into a Cooperative Memorandum of Understanding, according to which MCC Group would be awarded with all the contracts for the works mentioned above, and MOD would be responsible for all the coordination work. In addition, MCC Group would be authorized to develop the relevant mineral resources, with a target to resolve the financing problems in this regard. Both parties agreed to make common efforts to push forward the mutual collaboration.

The business trip of MCC Group turned out to be one of the essential links during the friendly visit of Chinese Vice-Premier Wang Qishan to Zimbabwe. The Vice-Premier met with the delegation members of MCC Group on March 21, 2011. He was debriefed on the market exploration of MCC Group in Zimbabwe in the past over two decades. Wang gave full recognition to the efforts made by MCC Group. He requested the Chinese-funded enterprises to have a clearer awareness on the development stage of the state, and strive for a better performance in the global presence strategy and realize sustainable development.

Wang said, in view of the friendly cooperative relationship between both countries, China would offer assistance to Zimbabwe in terms of industry, agriculture and tertiary-industry. And the Chinese Government encourages ventures to carry out business in Zimbabwe and bring prosperity to the local economy. The visit of Wang Qishan made a tremendous effect in Zimbabwe. Export-Import Bank of China (EIBC) and State Development Bank (SDB) of China, the representatives of which accompanied Vice-Premier Wang during the visit, extended substantial support to Chinese-funded enterprises to invest and explore the local resources market. All these factors played an active part in promoting the signing of MOU between Zimbabwean partners and MCC Group. During the visit, MCC delegation held in-depth communication with the representatives of EIBC and SDB, and acquired great support from the Banks on business expansion in this country. The delegation also learned about the supportive policies of these two policy banks for marketing and developing mineral resources in Zimbabwe.

The political situation of Zimbabwe has started to be stabilized recently, and the economy has bottomed out from the difficulties due to the international sanction of several years. With relatively well-developed infrastructures, this country possesses a certain industrial base and is endowed with rich resources. It is believed that, after deliberate planning and design, the exploration of the local construction market is feasible in practice.