Second Republic reforms receive global recognition
ZIMBABWE has been invited to participate at the World Economic Forum (WEF) in Davos, Switzerland next week, a ringing endorsement of the economic reforms under the Second Republic.
The forum runs from May 22 to 26 and this will be Zimbabwe’s second time to attend the WEF since the advent of the New Dispensation.
The invitation comes as comprehensive economic reforms under the Second Republic have started bearing fruit as witnessed by growing local and foreign investor confidence.
Zimbabwe has undertaken widespread economic reforms that broadly seek to contain fiscal and current account deficits while growing the economy towards upper middle income status by 2030.
Over the past few years, Zimbabwe under President Mnangagwa has been able to improve the investment climate, enhance the ease of doing business, deepen re- engagement with Western countries and global multilateral and bilateral partners, clearing burdensome external debts, and restoring key and proper economic fundamentals.
President Mnangagwa is expected to attend the WEF which will bring together over 2 000 world leaders, presidents and chief executive officers of top global companies, global media outlets and business experts from around the globe, all committed to a Davos spirit of improving the state of the world.
Switzerland Ambassador to Zimbabwe, Malawi and Zambia, Mr Niculin Jager, confirmed Zimbabwe’s invitation after a closed door meeting with Foreign Affairs and International Trade Minister Ambassador Fredrick Shava at his Munhumutapa offices in Harare yesterday.
“I met with the Minister of Foreign Affairs and International Trade where we spoke about the road to Davos. As you are aware that next week the World Economic Forum will take place in Davos and Zimbabwe will attend the forum.
“His Excellency President Mnangagwa and his delegation will have meetings with Swiss industries, companies as well as with Swiss authorities,” said Ambassador Jager.
He said Davos provides Zimbabwe with a platform to market itself to the world.
“We are looking forward to provide a platform for the Zimbabwean delegation to meet with the Swiss authorities and also leading Swiss companies.”
Switzerland remains one of the main European investors with a strong economic footprint and commitment in the food, shoe, tourism, construction, energy, pharmaceutical, natural resources and agriculture sectors in the country.
Some of the Swiss companies have been part of the Zimbabwean landscape for a long time, creating jobs and supporting the economy.
The President has assured all businesses in Zimbabwe and potential investors that his Government will continue to put in place frameworks and mechanisms to further consolidate investor confidence and deepen the country’s financial markets.
Some of the issues discussed at yesterday’s meeting with Ambassador Shava include intensifying economic co-operation between the two countries.
“We had broad discussions on relations between Zimbabwe and Switzerland, with special emphasis on the economic co- operation as we recently inaugurated some new projects from Switzerland.
“We specifically also discussed how we can better the legal framework between Switzerland and Zimbabwe when it comes to investments and also how we can tackle issues from the past such as the full implementation of the BIPPA, which means the agreement on the protection of investments”, said Ambassador Jager.
He said Switzerland businesses are keen to invest in the field of agriculture, pharmaceutical and manufacturing sectors.
Turning to Zimbabwe’s engagement and re- engagement policy, Ambassador Jager commended the Second Republic for making concerted efforts towards engaging and re-engaging the international community.
“Since 2018, we have seen big steps towards international engagement and re- engagement. Switzerland has always remained fully engaged throughout the time. Our companies and our investments are proof of this as well as our diplomatic presence,” he said.
The World Economic Forum in Davos, Switzerland, is an opportune platform to show the world that Zimbabwe has transformed and is open for business.
The country’s participation at WEF also goes to show that the international community has finally realised that it’s time Zimbabwe rejoins the community of nations, for connectivity is now the talk of the day, breaking barriers through information and communication technologies.