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Senior Business Reporter
MACRO-Economic Planning and Investment Promotion Minister Obert Mpofu says there is a need for Zimbabwe to come up with a harmonised macro-economic planning policy that can be integrated to consolidate the promotion of investment.
Speaking during a two-day ease of doing business seminar in Bulawayo on Friday, Mpofu said: “I think we should come up with a macro-economic planning policy so that it’s integrated with other policies that seek to attract and promote investment.”
Speaker of Parliament Jacob Mudenda concurred with Mpofu adding that such an approach would assist policy makers to prioritise low hanging fruits that the country can take advantage of to expedite economic recovery.
“Minister Mpofu said there’s no macro-economic planning policy in the country.
‘‘Why aren’t we having a macro-economic planning policy to assist on what’s already there (Zim-Asset)?
‘‘We can ask ourselves, what are the areas Zimbabwe’s economy can prioritise as low hanging fruits?
‘‘That’s where a macro-economic planning policy comes in to say how we can do it,” said Mudenda.
In his speech, Mpofu said the greatest challenge Zimbabwe has is passing laws that attract investment and cause investors to come with new capital and technology to raise national productivity.
He said it was painful to note that the country is still facing economic challenges arising from subdued incomes, ailing industry and lack of meaningful investment in key areas of the economy.
“What’s required is capital investment that will translate to economic growth, vigorous employment creation and stronger and sustained industrial revival.
‘‘There’s no country that can achieve growth without adequate investment,” Mpofu said.
The country is in dire need of foreign direct investment to achieve the 7,2 percent annual economic growth projected by Zim-Asset.
“The current growth rate of less than two percent shows that we need to come up with robust policies and innovations to grow the economy,” Mpofu said.
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