Chronicle Editor
President Mnangagwa is busy, always.
Yes, he does a lot of office work in Zanu-PF and in Government. In addition to that, he is commissioning two, three new projects or breaking ground for more proposed ones almost every week. Multi-billion dollar highways, hospitals, mines, factories and other investments, he is commissioning.
All this work highlight two factors – an economy on the ascendency and solid investor confidence in the market.
Some of the projects are financed by private investment but the Government is also involved in a big way through the devolution drive.
Therefore, we are in the middle of a construction boom, arguably unseen in history in terms of its geographical scope and economic and human impact. The boom has triggered a cement shortage, a positive challenge indeed which must challenge cement makers to ramp up output to meet the spiking demand.
On Wednesday, the President was in Victoria Falls where he commissioned three new hotels. Palm River Hotel, Zambezi Boutique Hotel and Nkosi Guest Lodge add to the growing suite of hospitality investments in the country’s prime tourism destination.
“Just last week, I was here to officially open the Victoria Falls Stock Exchange and celebrate the listing of Caledonia Mining Corporation Plc onto the Victoria Falls Stock Exchange official list,” said the President.
“The concurrent completion of these three new tourism facilities is the first of its kind for this resort city. The entry of these tourist accommodation facilities is a welcome development which is set to increase the competitiveness of the tourism sector as well as the range of tourism products offered in Zimbabwe.
“Today’s event, read together with the launch of the Victoria Falls Stock Exchange, is a clear testimony that the Second Republic has ushered in a new era of unprecedented economic growth and that Zimbabwe is indeed a safe investment destination.”
The national goals of attaining an upper middle income economy by 2030 and growing the tourism industry into a US$5 billion economy by 2025 are achievable given the new investments into the sector.
“I am pleased that players in the tourism sector continue to demonstrate unwavering confidence in the future of our country by initiating and successfully completing new investment projects,” he added.
“Zimbabwe remains open for business and my administration welcomes more investors in this and other sectors of the economy.
The Second Republic is on course with regards to improving the ease and cost of doing business. We are determined to ensure that our country is an investment destination where capital feels safe. Clean and reliable supplies of enablers such as water and power are critical elements to a vibrant tourism sector.”
It gladdens us that so much investment has flowed into only one sector of the economy, into one destination so simultaneously. This is just what has happened in Victoria Falls in a week. There must be more investments that are taking place in the tourism and hospitality sector elsewhere across the country.
The Second Republic, is putting in place a range of measures to improve the investment climate. It is enacting investor-friendly laws; dropping those that put off investment in the past; attracting investment in enabling infrastructure such as roads, electricity, water and telecommunications and so on. That is encouraging.
On the other hand, we commend the investors at the three establishments that the President commissioned on Wednesday. The value of the investments is huge, running into tens of millions.
The quality of the investors is top class as well, with Old Mutual and the Public Service Commission involved in US$24 million Palm River Lodge.
We call for more investment into new facilities and expansion of existing ones in Victoria Falls and the tourism industry at large.
We, too, call for more investment into other sectors of the economy so that more of our people can secure jobs to earn an income for a better life; so that the economy develops to cement its place among Africa’s best.
Online Reporter