Dubai Expo yields desired results
Pauline Dikuelo | Tuesday August 30, 2022 06:37
According to the Botswana Investment and Trade Centre (BITC) Executive Director Export Development and Promotion, Trunklinah Gabonthone, the return on investment is already realised noting that they managed to attract a company which has invested P50 million. Sheetal BW is a company which is in the diamond polishing and cutting industry and has already employed about 68 people.
“Government spent P10 million in the Dubai Expo participation and already the investment that is coming into the country is bigger,” she said. The two additional companies in the diamond polishing and cutting industry, Dianco Diamond and Parishi Diamond Botswana, are currently completing setting up post the Dubai Expo 2020. Both companies are to start operating in September. “We are also in communication with other companies, which have expressed interest in investing in the country.
The other ones are in the dairy and diamond manufacturing industry. Some local companies that participated in the expo also signed deals with some international companies, so we are working with them to make follow-ups,” she said. Initially, the BITC had targeted raking in P180 million in investment deals at the six-month expo.
The country’s investment and export development lead agency had earlier reported having picked investment leads worth millions of pula at the Dubai Expo including an expression of interest by some companies including Sheetal Diamond Company, which now has a local operation base.
Other companies which were reported to have shown interest included Al Rawabi Dairy as well as Dubai Multi Commodity Company, which has pledged to support Botswana and ensure that the Emirates introduces direct flights to Botswana. Lilavati Hospital, a top Indian healthcare provider, was said to have expressed interest in investing in a hospital in Botswana with high-tech machinery and doctors, while Advika Jungle Villas showed interest in helping Africa’s economic diversification. Pure Pearl Gold Trading wants to source local rough diamonds and will be facilitated to undertake a site visit to Botswana while Sama International Company is interested in a possible partnership involving the export of goat meat to Saudi Arabia. Sama International through Mohammad Abu Raqabah, have assisted with exporting Botswana beef to Kuwait before. Locally made goods were also sold at the kiosk over the six-month expo up to March.