Quick economic turnaround everyone’s business
THE economy has been haemorrhaging for decades and Zimbabweans should take advantage of the new political dispensation to work together to stop further damage. In his address on Zimbabwe’s 38th independence anniversary celebrations at the National Sports Stadium on Wednesday, President Mnangagwa announced many policy measures that will drive the country towards quick economic recovery.
Anchored on the President’s consistence in pursuit of investment-led economic recovery, job creation, enhancing the ease of doing business, attaining national food security, poverty reduction, construction and rehabilitation of critical infrastructure, effective provision of social services and respect for the rule of law, the country’s economic fortunes can be turned around faster.
But this all depends on every Zimbabwean playing ball.
If the people embrace the momentum that has been generated so far that has seen increased investor confidence, the country could soon start enjoying the fruits of the envisaged growth of 4,5 percent in 2018.
This growth will be driven by good performance in agriculture, mining, tourism and construction sectors as well as plugging all revenue leakages that unscrupulous people have used to externalise national resources.
The Government is building on the successes of Command Agriculture to ensure continued food self-sufficiency and increased land utilisation and productivity through mechanisation and modernisation of agriculture.
The success of these efforts hinges on hard work, honesty and dedication from all Zimbabweans.
It is our hope the $37 million set aside towards the National Irrigation Rehabilitation and Development Programme and additional packages from Russia, China and Belarus will see farmers being equipped with requisite irrigation infrastructure to mitigate the vagaries of climate change.
Government’s consistent support for the mining sector, including amending the Indigenisation and Empowerment policy setting ownership thresholds of 51:49 percent is definitely going to attract more investors into the sector.
The recently signed $4,2 billion investment agreement by Karo Resources to create an integrated platinum project that has potential to create 15 000 jobs stands as one of the fruits of the Government’s policy shift.
To facilitate the modernisation and retooling of Zimbabwe’s manufacturing industry, Government should be lauded for its multi-pronged efforts to access lines of credit and affordable long-term financing for this sector.
As the country continues its drive to secure more Foreign Direct Investment, value addition and beneficiation of our primary products should not be downplayed as the nation is set to earn more revenue.
As more FDI flows into the country, it is our hope that there will be a quick revival of strategic companies such as the National Railways of Zimbabwe and Zisco Steel, which are key to economic recovery.
No country can competitively conduct business without developing ICT infrastructure and harnessing technology-driven innovation in all sectors of the economy and Government should be lauded for supporting this sector.
The dualisation of the Beitbridge-Chirundu Highway, the Beitbridge to Victoria Falls Road, the modernisation of the Beitbridge Border Post and the expansion of Robert Gabriel Mugabe International Airport, among others, will also be key towards reviving the economy.
We urge Government to support the tourism sector as it continues to witness increased growth, as indicated by arrivals and flight frequencies of new airlines that land at both Harare and the newly expanded Victoria Falls International Airport.
This is a sector that provides low hanging fruits and if adequately supported has potential to generate hundreds of millions of dollars in foreign currency.