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Business Reporter
The National Competitiveness Commission (NCC) is set to host a two-day summit in Bulawayo next week aimed at tackling challenges hindering Zimbabwe’s effectiveness.
The summit, expected to be officially opened by President Mnangagwa, brings together key stakeholders to dissect the issues and forge a path towards a more competitive national landscape.
It will be held from February 19 to 20, 2025, the NCC said.
With Zimbabwe continuing to strengthen its economic ties through various trade agreements, local companies are being urged to prioritise competitiveness to fully benefit from these opportunities.
Some trade analysts contend that simply having access to foreign markets is not enough and businesses need to be able to compete effectively to gain a foothold in the global arena.
As such, the summit’s core objective is to identify policy gaps currently stifling the private sector and preventing Zimbabwe from reaching its full economic potential.
Participants will work to develop concrete strategies to address the gaps and create a more level playing field for businesses.
One of the key focus areas would be the role of local authorities in fostering competitiveness.
The summit will explore how local governments can contribute to a more business-friendly environment and develop strategies to enhance their involvement.
The importance of the Regulatory Impact Assessment (RIA) tool will be highlighted, with efforts to raise awareness about its use and benefits.
The RIA is a crucial instrument for ensuring that regulations are well-designed and do not unnecessarily burden businesses.
Zimbabwe’s performance will be benchmarked against other nations, with a particular focus on learning from the economic transformation journeys of India and Mauritius.
The summit will draw lessons from these countries’ experiences to inform Zimbabwe’s own path to greater competitiveness.
Participants will also be tasked with proposing specific interventions that can create a more competitive business operating environment.
This includes identifying key areas where improvements can be made to streamline processes and reduce barriers to entry.
Resolutions from the summit are intended to form the basis of Government policy interventions.
These interventions will be crucial for transforming the economy and building resilience against global economic shocks.
According to the NCC, the successful implementation of these resolutions will be instrumental in improving Zimbabwe’s overall competitiveness.
This, in turn, is expected to drive sustainable economic growth and lead to tangible improvements in the standard of living for all Zimbabweans.
The summit’s aspirations are closely aligned with the National Development Strategy 1 (NDS1) objectives, which prioritise increased productivity and competitiveness as key drivers of economic development.
Key international speakers include Professor Amit Kapoor, chairman of the India Institute for Competitiveness and lecturer at Stanford University.
Prof Kapoor, who has collaborated with renowned economist Prof Michael Porter on India’s competitiveness strategy and roadmap, also contributed to the 2023 Africa Export Competitiveness Report.
He developed the assessment frameworks for the Municipal Performance Index and Ease of Living for the India Ministry of Housing and Urban Affairs.
At the summit, Prof Kapoor will present “The Role of Local Authorities in Enhancing Competitiveness.”
The summit will also feature presentations and interactive panel discussions covering critical areas for Zimbabwe’s competitiveness.
The sessions will delve into key topics, offering insights and fostering collaboration among stakeholders.
Innovation will take centre stage, with academic leaders sharing their expertise on Innovation Hubs and Education 5.0.
A presentation from the Ministry of Higher and Tertiary Education will further explore this vital area, complemented by a panel discussion to align innovation efforts with Vision 2030 and the nation’s industrialisation goals.
Infrastructure development, a cornerstone of competitiveness, will be addressed by the Infrastructure Development Bank of Zimbabwe (IDBZ).
Its presentation focusing on “Infrastructure Development and Competitiveness” will be followed by a panel discussion involving both public and private sector players.
The summit will also examine the crucial link between labour productivity and competitiveness.
A dedicated presentation on “Promoting Labour Productivity for Enhanced Competitiveness” will explore strategies to boost workforce efficiency and drive economic growth.
The role of local authorities in enhancing competitiveness will be a key theme.
Professor Kapoor’s presentation on the role of local authorities in enhancing competitiveness will offer practical strategies to improve service delivery and create a more business-friendly environment at the local level.
A plenary session will follow, allowing for broader discussion and engagement.
The importance of standards in achieving global competitiveness, particularly within the context of the AfCFTA, will be highlighted.
The Standards Association of Zimbabwe (SAZ) will deliver a presentation on “Harnessing International Standards for Enhanced Global Competitiveness,” emphasising their role in facilitating trade and promoting quality.
Online Reporter