Online Reporter
Locadia Mavhudzi, Midlands Correspondent
FINANCE, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has reiterated Government commitment to improving the ease of doing business and decentralising economic development to ensure that every province contributes to national prosperity and job creation.
He made these remarks on Friday at the Midlands Investment Conference in Gweru, where the Treasury is spearheading a campaign to rebrand the province as Zimbabwe’s investment epicentre under the theme “Midlands Province: The Resource Centre of Zimbabwe — Unlock and Explore Unlimited Opportunities”.
“In line with Zimbabwe’s Devolution and Decentralisation Agenda, Government remains committed to creating a conducive environment for investment, in particular, lowering regulatory costs and instituting incentives with a focus on value-addition and beneficiation to realise higher value exports in key priority areas,” said Prof Ncube.
He noted that despite the Midlands Province’s huge natural resource endowment and the strong foundation in industrial infrastructure, the province is growing at a slower rate of 4,7 percent which is below the average growth of 5,6 percent for all provinces, which is even far below its full potential rate of around seven percent per annum.
According to the Midlands Economic Outlook, the province’s economy is projected to grow by an average of 7,9 percent between year 2021 to 2030.
In his address, Prof Ncube also unpacked the Draft Midlands Compendium, showcasing investment prospects in the province’s eight districts. He highlighted that the selected investments prospects are only a sample from the vast potential that exists in the province.
“The launch of the Midlands Investment Compendium, will be a new portal to provide a clear pipeline of opportunities designed to boost investment, create jobs and enhance productivity,” he said.
“From large-scale infrastructure projects from the solar plant and cotton processing plant to irrigation schemes will give the growth story of the region’s economic potential.”
Meanwhile, Midlands Minister of State for Provincial Affairs and Devolution, Cde Owen Ncube, highlighted that through the engagement and re-engagement policy under the Second Republic, Midlands province has attracted big mining companies and some have expanded their business portfolio to power generation.
“These entities include Dinson Iron and Steel with a capacity to generate 50MW, Chengetai Cheng Xi Investments, JINAN, Jin Yi, Mimosa, Unki, and Murowa Diamonds, among several others,” he said.
“Midlands province supplies nationally 100 percent of civil explosives, 42 percent of national PGMs, and 30 percent towards gold production.”
Cde Ncube said the Second Republic’s visionary and transformational strategies to mitigate against the devastating effects of climate change-induced droughts have transformed the Midlands Province into a competitive agricultural hub, harnessing 259 dams to support tourism, industry and agricultural value chains.
The Midlands Investment Conference, ran from April 3 – 4 at Village Lodge in Gweru, and featured major stakeholders including Dinson Iron and Steel Company, which is contributing 50MW to the national grid, and updates on the Manhize Smart City development.
