9 December 2012
PRESIDENT Robert Mugabe has turned the tables on his Chinese allies
saying Zimbabwe would be stupid to accept investment from China and any
other foreign country without pre-conditions.
This contradicted Youth Development, Indigenisation and Empowerment
minister Saviour Kasukuwere, who was once quoted saying the Chinese
would not be affected by the indigenisation regulations.
Addressing the Zanu PF 13th Annual National People's Conference in
Gweru, Mugabe warned the Chinese that they would no longer be protected
from the controversial indigenisation laws, which compel foreign-owned
companies to cede 51% shareholding to locals.
"Even our Chinese friends, you have to accept our rules here if you want to work with us," he said.
Mugabe said the Chinese should respect local conditions and vice-versa.
"We have to work on a reciprocal basis," he said.
Mugabe said foreign investors were free to bring in their capital and
technology, but should never dream of owning land and majority
shareholding in local companies. "This will be robbery, theft," he
thundered. "If you are a leader and agree to this robbery, then you are
not a good custodian of your people's resources."
He said it was time 100% indigenisation was introduced, claiming the
country had now done enough to acquire 51% shareholding in foreign-owned
companies.
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