ED opens US$20m Pepsi plant

Zimbabwe’s economy is on the right path and Government continues to craft policies to protect investments, while creating an environment for business to thrive, President Mnangagwa has said.

He said this while officially opening the second phase of Varun Beverages’ manufacturing plant, installed at a cost of US$20 million, in Harare.

Varun Beverages is the world’s second largest franchise (outside the US) of carbonated soft drinks and non-carbonated beverages sold under trademarks owned by PepsiCo.

It produces brands that include Pepsi, Mirinda, Mountain Dew, Sting and Seven-Up, among others.

To demonstrate Government’s determination to improve the ease of doing business, the President said, Senate passed the Zimbabwe Investment Development Agency (ZIDA) Bill this week.

The Bill seeks to streamline and simplify investment procedures through the creation of a one-stop investment centre. It is part of a raft of reforms being implemented to ease investment processes.

President Mnangagwa said the Government would continue opening up the economy for investors.

“We are moving in the right direction by opening up and allowing protection of investments in Zimbabwe and creating economic space for business to thrive and those who have talent among us should be allowed to exercise that talent.

“This investment feeds into our national Vision 2030 and complements milestones committed in the 2020 National Budget, gearing for higher productivity, growth and job creation, especially for women and youths,” said President Mnangagwa.

He commended Varun Beverages for the confidence it had shown in the country through continued investments.

“In 2018, I commissioned a US$30 million bottling plant and today, I congratulate and applaud Varun Beverages, for establishing yet another state-of-the-art plant and additional production lines with a total (value) of US$20 million.

“This additional investment shows the continued trust and confidence Varun has in doing business in Zimbabwe. My Government will continue to create an enabling environment to ease the convenience and cost of doing business and ensure that the country is a safe, attractive and competitive investment destination.

“This drive is already bearing fruit, with the World Bank acknowledging Zimbabwe as one of the top global improvers in 2019.”

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