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Farirai Machivenyika Senior Reporter
Government should provide incentives for domestic investors in the 2022 budget as they are key in boosting overall confidence in the economy.
This came out during a pre-budget seminar for parliamentarians organised by the Southern Africa Parliamentary Support Trust.
Mr Artwell Gonese, an economist, said local investors were integral in boosting confidence in the economy, a key component in attracting foreign direct investment.
“The focus has been on FDI which is good, but you also need local investors. When you have local citizens investing, that is another way of attracting foreign investment,” he said.
He said the hiring of local companies for the construction of the Beitbridge-Harare highway was an example of how local entities could be capacitated.
Mr Gonese also said the local content concept could be promoted if Government reserved a set quota for locally produced goods in its procurement.
In his State of the Nation address, President Mnangagwa also urged Zimbabweans to buy locally produced goods as a way of promoting the growth of domestic companies and the economy.
Online Reporter