Zimbabwean President Emmerson Mnangagwa opens US $ 500 million ZIM Cyber ​​City project invested by Emirati investor Mulk International

The Emirati Mulk International Corporation has reached the difficult comparison by planning to develop the 2.5 million square feet of the “Cyber ​​City of Zimbabwe”, which will be a qualitative leap for the African country, as it seeks to develop its economy through foreign investment. “

Harrier, Zimbabwe, and Dubai, United Arab Emirates: The President of Zimbabwe, His Excellency President Emmerson Mnangagwa, today announced the inauguration of the $ 500 million ZEM Cyber ​​City project, which is a modern, multi-technology complex. It is equipped with modern technology on the outskirts of Harrier, the capital of the state of Zimbabwe, a project based on the development of the giant-diversified industrial holding entity located in the United Arab Emirates, which is an institution / (“Malik”). International “) is.

ZIM Cyber ​​City covers an area of ​​2.5 million square feet and is currently under construction in the Mount Hamden area, in the New Harrier area, and as the Mount Hamedden urban development plan includes the new building . The completed construction of the parliament, all buildings of all government ministries in addition to high-class residential and commercial buildings, and many compare this project to the “Al-Dwan-Town” projects and “Sheikh Zayed Road development projects” in Dubai, United Arab Emirates Emirates.

The President of Zimbabwe, His Excellency President Emmerson Mnangagwa, said: “Zim Cyber ​​City is our hope that it will become the project that will be the landmark and imprint of impact in the country of Zimbabwe, as it is a way will provide life for the people of Zimbabwe High Class, rather world class style for all its inhabitants, and our government fully supports this exciting development, and I wish the President of the Foundation, His Excellency “Saji Oy Malak” and his honorable Congratulations Foundation , Gentlemen / (“Mulk International”) for their kindness in bringing the “Zim Cyber ​​City” City to Zimbabwe.

The ZIM Cyber ​​City project was previously proposed by Mulk International to His Excellency President Emmerson Mnangagwa, President of the State of Zimbabwe, as part of His Excellency’s visit to the United Arab Emirates on the sidelines of the “Expo 2020 Dubai “Global”, and that the current project is covered by the generous sponsorship and sponsorship of His Excellency President Emmerson Mnangagwa, President of the State of Zimbabwe, who kindly granted Messrs. Mulk International an exclusive license to ” a digitized economic zone in the category of digital transactions “Blockchain” and private digital assets.

It is noteworthy that this is the first large-scale investment of its kind made by an Emirati business house in the Zimbabwean economy, which will serve as a boost and support for the bilateral ties and relations between the United Arab Emirates and the state of Zimbabwe Mulk International is the owner of Alo-Pond USA, which is the largest economic entity in the aluminum composite panel (ACB) sector and has investments in the African continent, in addition to Asia and Europe.

His Excellency Nawab Saji Ue Malik, President of Mulk International, expressed his gratitude to His Excellency the President and Government of the State of Zimbabwe: “His Excellency President Emmerson Mnangagwa supports with all his might and sincerity the first achievement of Mulk International. in the state of Zimbabwe, and the “Zim Siber City” project is the first of several investment projects that our group “Mulk International” has promised to provide and implement through the channel of the respective special economic status of the entity “Zimbabwe International” Investments “” known as “Zimbabwe Global” Investment “.

ZIM Cyber ​​City will become a unique, iconic development project based on providing multi-frame economic benefits to businesses and integrated with luxury lifestyle solutions.

On the other hand, ZIM Cyber ​​City is the first real estate investment project in the country of Zimbabwe to be implemented through the channel of the Distinguished Economic Zones Program (SEZ) of the “Zimbabwe Global Investments”, known as “Zimbabwe Global”. Investment “(ZGI).), Which was designated for adoption and approval by His Excellency President Emmerson Mnangagwa, President of the State of Zimbabwe, and was awarded by the Ministry of Finance and Economic Development in the country.

The urban development plan for the project includes 250 townhouses, more than 80 luxury villas, a number of apartment complexes and buildings, high-tech administrative office facilities, as well as corridors and retail halls. High level, with a commercial tower consisting of (15) floors, and ornate gardens, all within the scope and framework of an urban complex secured by high insurance technologies and gates with the availability of a health club, community center and other service facilities .

In turn, ZIM Cyber ​​City will facilitate smooth and clear clearances and offers within the deadlines set for high-tech administrative office areas and spaces, blockchain technology licenses, digital assets, bank accounts, and provide high-class residential living for all individuals and entities working and living in the community, the project will include integrated monitoring technology in a system (24) hours (7) days per week that is directly linked to local law enforcement agencies to achieve the highest levels of security and safety for the population.

In turn, His Excellency Adnan Uwe Malik, Vice President of Malak International, said: “Malik International has worked tirelessly and relentlessly to understand and assimilate the market and to gain a deeper vision of Zimbabwe’s culture and its promising opportunities. reach, and the depth and breadth of advanced digital resources and capabilities in various The fields are what give ZIM Cyber ​​City solid long-term growth opportunities.

The holders of institutional licenses intended to be located within the scope of “Zim Cyber ​​City” will enjoy a package of incentives, including the restoration and return of capital and profits to their home countries without any minimum transfer limits , the ease of transferring funds within and outside the country through local or foreign bank accounts without Minimum limits or restrictions, exemption from the payment of all taxes for a period of (5) years, free resale concession of real property and a permit to to hire foreign workers with a fixed, unchanged tax rate of (15) percent tax.

It should be noted that Mount Hamden is located within Western Machu-Naland Province, Zimbabwe, 11 miles northwest of the capital, Harrier, and along Old Mazwe Street. The estimated amount (11.43) square kilometers has been allocated for the purposes of building a new city, which marks the beginning of a new era for the country of Zimbabwe, as well as the implementation of a clear economic zone specifically for investors has been designated.

It is a clear economic zone for the purposes of free trade and export, which in turn promises promising investors the ability to enter local and regional markets and enjoy infrastructure, service facilities and ancillary services.

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About the Foundation (“Molek International”):

The Corporation (“Molek International”) is a huge multinational economic entity with diverse and widespread business sectors, which varies and mainly includes four sectors: building materials, plastics industries, healthcare, cricket assets, and for more than two decades owns the “Molek International” Foundation and manages a group of companies consisting of (18) companies under the wise leadership of His Excellency, the President of the Foundation, Mr. “Nawab Saji Oy Malak”.

The Foundation gained international recognition and distinction by owning the “Alo-Bond” brand, which has established itself as the largest manufacturer of outdoor building facade materials in the world, and also by achieving the “T-10 Cricket League”, which has grown by (2 000%) in the five years. The latter to become the second largest cricket league in the world, which has a viewership of more than (500) million viewers, and that “Zim Cyber ​​City” is the latest initiative in a series of “Mulk International” initiatives and is planned to become a footprint, but a new global landmark with its impact.

On the other hand, the company follows the methodology and philosophy of “strategic partnership”, which makes it highly valued in building relationships with like-minded institutions, and that “Malik International” has succeeded in establishing many partnerships and joint ventures. deals with giant industrial entities around the world, which has made it the winning industrial powerhouse it is today.

His vision is to identify leading positions with promising growth opportunities and technological innovation, and to build smart societies for the future where businesses and lifestyles can flourish.

About the Zimbabwe Global Investments Authority – also known as Zimbabwe Global Investments (ZGI):

ZIM Cyber ​​City is the first real estate investment project attracted in Zimbabwe by the Distinguished Economic Zones (SEZ) program of the Zimbabwe Global Investments Authority, known as “Zimbabwe Global Investments” (ZGI), which indicated that it was approved is. approved by His Excellency President Emmerson Mnangagwa, President of the State of Zimbabwe, and has been awarded by the Ministry of Finance and Economic Development in the country.

And that this incentive program will provide support and work to strengthen the business environment system by providing the privilege of sustainable growth and preparing and stimulating investment in the country, and that all projects under the “ZGI” guarantee will be given the status of “SIZ”, and this in turn, “Z GI is responsible for creating a special mechanism to establish all foreign direct investment in Zimbabwe and obtain rapid clearances.

Some of the benefits available to investors coming through the ZGI portal include exemption from corporate income tax for the first five years of operation, in addition to the special initial “allowance” barrier applied to the basic equipment and equipment of companies, will be expanded to the rate and percentage of (50%) of costs from the first year and 25% in the next two years.

The incentives also include the calculation of a fixed unchanged tax of (15) percent on the recruitment of specialized expatriate workers, exemption from non-resident tax applicable to fees, and services not available locally, exemption from non-resident tax for usufruct rights and patent fees in addition to exemption from non-resident tax applicable to profits.

Among the attractive advantages are also imports without clearance fees for the main equipment and appliances of “SEZ”, and imports without clearance fees for raw materials and intermediate transition products imported for the purpose of establishing and establishing companies with “SEZ”.

This will allow investors to recover their profits and capital out of the country and transfer it freely to their countries, as Zimbabwe currently allows the sale of products in US dollars and local currencies, enabling investors to recover the currencies of their to enjoy choice.

Breville group:

The Breville Group of Companies is the facilitator of the ZEM Cyber ​​City project.

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