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Zim Govt puts eye on the ball

07 Dec, 2018 - 15:12 0 Views
Zim Govt puts eye on the ball Minister Mthuli Ncube

eBusiness Weekly

HARARE – The Zimbabwe government is  determined to mend the ailing economy through implementing reforms that  attract much needed investment, a Cabinet Minister has said.

President Emmerson Mnangagwa’s government has adopted a business  friendly approach in an effort to revive the struggling economy under  the mantra Zimbabwe is Open for Business.

It has already set in motion plans to transform the country into a  middle income economy by 2030 starting with the implementation of a two  year Transitional Stabilization Programme (TSP).

The TSP, which primarily aims to lay the foundation for the country’s  vision 2030, is premised on five main pillars namely governance,  macro-economic stability and financial re-engagement, inclusive growth,  infrastructure and utilities and social development.

Implementation of the TSP would be succeeded by two successive five  year development plans.

Finance and Economic Development Minister Professor Mthuli Ncube said  the government was fully focused on economic revival.

“In the new dispensation we have said that we do not want to focus on  politics, we are focusing on economic revival that is why we have  launched this new stabilisation programme (the TSP) as an enactment  programme for our vision 2030.

“We are focusing on the economy. We are determined to put it on the  right path for prosperity and for investors to profit from as long as  they work with us. They (investors) should believe in us,” he said in an  interview with CNN’s Richard Quest in New York where he is attending a  United Nations meeting.

“For the first time we are walking the talk. We are doing everything we  have said we will do. We are measuring the results. We are result  oriented.”

Prof Ncube said Zimbabwe was currently one of the most attractive  investment destinations on the continent due to institutional and  economic reforms being implemented.

He said vices such as corruption which hindered investment in the past  were also being dealt with.

“Zimbabwe is easily the biggest buy in Africa right now on any asset,” he said.

“Property rights are secure in Zimbabwe. We have a judiciary that  works, we have contract enforceability, conditions that work, we have  rule of law that works and we have a list of other institutional reforms  that were put in place including the ease of doing business.”

The Zimbabwean economy has been heavily weighed down by sanctions  imposed by some Western countries which resulted in the country failing  to access affordable financing from global lenders.

The sanctions, as well as poor and inconsistent policies implemented by  Zimbabwe in the past had scared off investors.

But now under the stewardship of President Mnangagwa, the government  has scaled down intimidating laws such as the Indigenisation Act and  embarked on a global re-engagement drive to lure investors. – New Ziana

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