President urges industry to complement Govt reforms

Source: President urges industry to complement Govt reforms | The Herald 28 JUN, 2019

President Mnangagwa is welcomed by Zimbabwe National Chamber of Commerce past president Mr Luxon Zembe (right) at the body’s annual congress in Victoria Falls yesterday. — (picture by Obey Sibanda)

Leonard Ncube and Enacy Mapakame
PRESIDENT Mnangagwa says Government will vigorously push the ongoing reform process and implored captains of industry to complement the efforts through explaining the developments to citizens as no one should be left out.

He said this while officially opening the Zimbabwe National Chamber of Commerce (ZNCC) 2019 annual congress in Victoria Falls yesterday.

The ZNCC congress, which ends today, is running under the theme; “Expanding horizons: Dynamic solutions for economic turnaround.”

President Mnangagwa said his administration will not avoid doing what is good for the country in the short to medium term as it presses ahead with attaining Vision 2030.

“We shall continue to deepen the ongoing reform initiatives and not shy away from doing that which is good for our country and the generality of our people,” said President Mnangagwa.

“To this end, the ongoing monetary reforms, fiscal consolidation, macro-economic stabilisation, stimulation of growth and the quest to create employment for our people will proceed with increased impetus.

“I call upon the business community to complement Government in the fulfilment of the reform objectives. In our respective spheres, we must take it upon ourselves to explain the new developments especially with regards to the recently gazetted SI (Statutory Instrument) 142 of 2019 to our people. Let’s reassure them that we are on the correct path and the measures we are instituting will bear fruits.”

President Mnangagwa added that sustainable growth remained the tool in expanding opportunities, increase wealth, create decent jobs and achieve broad-based empowerment across every spectrum of the economy.

The President said sustainable economic development will only be achieved through hard work, hence industry should play a part in improving the lives of people. He said the private sector played a key role in reviving the economy, hence the need to continue engaging Government in dialogue.

The Head of State invited investors to invest in Special Economic Zones, adding that the issue of competitiveness remains high on the policy agenda to strengthen local capacity to produce competitive goods and services.

He said the ZNCC congress was an important platform towards enhancing socio-economic dialogue to grow and develop the country.

He commended the chamber for inviting delegates from SADC and Comesa blocs saying the move gives impetus for successful market-driven economies in the context of SADC Industrialisation Strategy and the African Continental Free Trade Area (AfCFTA).

AfCFTA gives industry and business access to a large, single African market of about 1,2 billion people.

The President also said collective effort should now be on innovation, harnessing new technologies and ICTs to increase product range and capture the growing regional and continental markets as well as penetrate the global value chain.

Meanwhile, President Mnangagwa said the Zimbabwe National Development Policy (ZNDP) and the Local Content Strategy, will guide the industrialisation agenda.

The policies were passed approved by Cabinet recently.

The President said he was optimistic the policies will “facilitate the promotion of sustainable, innovative and globally competitive industries while creating a vibrant self-sustaining and competitive industrialised economy through utilisation of local resources and import substitution”.

He added that the National Competitiveness Commission will be capacitated to increase its cooperation with the industry while the Zimbabwe Investment Development Bill (Zida) will expedite processing of investments to improve the ease and cost of doing business in the country.