Wallace Ruzvidzo Zimpapers Reporter
THE splitting of the former Ministry of Finance, Economic Development and Investment Promotion into two separate ministries will sharpen the Second Republic’s focus on robust macroeconomic management while accelerating investment and industrial growth, President Mnangagwa has said.
Finance will now operate as a standalone ministry headed by Minister Mthuli Ncube, with the Ministry of Economic Development and Investment Promotion also functioning independently, as Government moves to give greater focus to the country’s economic transformation agenda.
President Mnangagwa yesterday swore in newly appointed Minister of Economic Development and Investment Promotion Senator Kudakwashe Tagwirei at State House in Harare, following the strategic restructuring of the two portfolios.
The President said the new ministry is expected to play a central role in driving investment, promoting industrialisation and coordinating initiatives aimed at accelerating Zimbabwe’s economic growth and development.
“This morning (yesterday), at State House, I presided over the swearing-in of Senator Kudakwashe Regimond Tagwirei as the Minister of Economic Development and Investment Promotion, in line with Subsections 1 and 6 of Section 104 of the Constitution of Zimbabwe.
“This follows our strategic decision to split the former Ministry of Finance, Economic Development and Investment Promotion into two dedicated portfolios.
“By creating two distinct ministries with clearly defined mandates and leadership, we are sharpening our focus on robust macroeconomic management while aggressively driving investment and industrial growth.
“Together, we continue to build a stronger, more resilient economy for all Zimbabweans,” he said.
Speaking to the media after being sworn in, Minister Tagwirei began by expressing gratitude to President Mnangagwa for the opportunity to serve in Government.
He said his priority would be to increase investment in the country, both domestic and foreign direct investment (FDI), while ensuring that such investment aligns with the objectives of the National Development Strategy 2 (NDS2).
“In essence, my role will be to look at the economic objectives of the National Development Strategy 2, the 10 pillars of the National Development Strategy, and ensure that the economic side of it is aligned to that of NDS2, but also to bring capital to Zimbabwe, to ensure that the Government projects (being implemented) are funded commercially and others are funded through fiscal.
“So, my role will be to bring in capital into Zimbabwe, foreign and local, to make sure that those objectives are met, and that’s what I’m hoping I’m going to be doing.
“But as I said, I’m yet to meet His Excellency the President to give me direction as to what I’ll be doing, and hopefully I’ll be meeting you the press, and we’ll be discussing what I’ll be doing,” said Senator Tagwirei.
