Online Reporter
Joseph Madzimure
Zimpapers Politics Hub
The Government of Zimbabwe’s efforts to promote a private sector-driven economy are yielding positive results, with the business community committing to collaborate on economic development policies.
In a major milestone, several Memorandums of Understanding (MoUs) were signed last year between the Government and various business management organizations to foster a conducive business environment that supports national economic growth.
The Government’s drive for private sector-led economic development aligns with its broader policy objectives, such as job creation, poverty reduction, and sustainable economic growth.
Zimbabwe, through its national development agenda, is seeking to achieve an upper middle-income society by 2030 and the National Development Strategy 1 (NDS 1), a five-year economic blueprint that expires in 2025 sets the tone towards the national vision.
After its expiry, NDS 1 will be succeede by a similar economic development policy—NDS 2 expected to see the country realising an upper middle-income society by 2030.
The Ministry of Industry and Commerce on Wednesday engaged representatives of the Confederation of Zimbabwe Industries, which marked another milestone in cementing a private sector-led economy.
Industry and Commerce Minister Mangaliso Ndlovu said the Government remains committed to working with the private sector
“This is all about reviewing the engagements that are critical in facilitating the partnerships. Our engagements were cordial as they set the tone for more cooperation riding on the existing relationships as well as the MOUs that were signed recently and the purpose was also to review them for the benefit of all the parties,” said Minister Ndlovu.
The Government will launch NDS 2 this year as it continues its quest for an upper-middle-income society by 2030.
“We signed MoUs with various players last year and the essential aspect of signing the MoUs was to create an engagement framework which we had not had before then,” said the Minister.
“The engagement framework now facilitates such engagements with the business sector every month.
“Today (yesterday) I was meeting with BMOs together with the sub-sectors just to get an update on where we are and the implementation of the industrial reconstruction and growth plan and also to hear from the business sector what they are going through and where they would like us to collaborate on some policy recommendations. “Very soon we will be intensifying our industrial development policy and we are also coming up with the National Development Strategy 2, so we want to have a policy framework that speaks to each other and that is aligned with the business interests,” he said.
The Government is hopeful the private sector will consolidate economic development goals.
Confederation of Zimbabwe Industries chief executive officer Ms Sekai Kuvarika called for mutual understanding with the Government on matters of national economic interests.
“The business community is there to work with the Government and what we are doing today is to further explore engagements riding on the need to reinforce the private sector-led economy,” she said.
“We shall continue to find each other based on the need to boost relationships and focus on economic growth as the private sector. Working with the Government allows us to network and see what we can do in the future,” said Ms Kuvarika.
Buy Zimbabwe general manager Mr Alois Burutsa said a lot needed to be done to consolidate the engagements.
“We find them to be fruitful and cordial, so riding on what happened today, indeed we are really committed to upscaling the ties and focus on the job at hand, which is to review cooperation, identify loopholes and focus on the way forward,” said Mr Burutsa
The private sector is expected to contribute to the projected 6 percent economic growth year-end.
Online Reporter