Chronicle Editor
Robin Muchetu, Senior Reporter
PRESIDENT Mnangagwa has reiterated the severity that Covid-19 has presented to African countries and the rest of the world’s economies saying it has impacted negatively on trade, investment and development.
The President was speaking during the virtual African Reconstruction Global Summit hosted by the World Economic Congress under the theme ‘Collaborating towards Economic Reconstruction of Zimbabwe and Africa’ on Tuesday.
He told the meeting of the country’s thrust of being an upper middle class economy by 2030.
“The vision embodies the collective aspiration and determination of the people of Zimbabwe to rebuild and transform their economy, leveraging on the country’s natural resources and competitive advantages,” he said.
He also spoke of the new economic blueprint, whose focus is to look at new priorities such as macroeconomic stability, governance, infrastructure, development, inclusive economic growth and social services among other pillars.
President Mnangagwa said the country has vast opportunities in natural resource endowments, high literacy rates, highly skilled labour force and relatively basic infrastructure.
He said the country’s location along the south-north corridor gives it a geo strategic advantage as a gateway into the Southern Africa and entire African markets.
He also spoke of the droughts that often affects the country.
“While shocks such as drought, floods, cyclones and the current Covid-19 pandemic have naturally brought to the fore gaps in our structures, our economy remains resilient. We also recognise that maintaining macroeconomic stability is an important part of the growth and investment equation of any country,” said President Mnangagwa.
He added:
“My Government has therefore, prioritised prudent fiscal and monetary policy and inflation control measures. To this end, bold reforms are being undertaken to eliminate market distortions, improve the ease of doing business environment, ensure the protection of private property rights and overall consolidate democracy and bolster free market enterprises.”
The President said he was also grateful for the current rains being experienced in the county.
“We are grateful to God Almighty for the ongoing good rainfall patterns experienced this current agriculture season. The above normal rainfall will support agricultural production and productivity. The present thrust is on, efficient and sustainable utilisation of our land, taking advantage of the good climatic conditions and good soils. In the country. The Agriculture and Food systems Transformation Strategy, being implemented by my own Government has presented vast investment opportunities.
“These are in horticulture, agro processing, development of rural industry systems, irrigation development and agriculture mechanisation,” he said.
President Mnangagwa said the fourth industrial revolution was upon the country and there is need to deploy technology made in Zimbabwe and Africa has become urgent and important.
He said the ongoing Covid-19 pandemic has further accelerated the need for the establishment and growth of a digital economy as well as expansion and investments in e-economics, telemedicine, video conferencing, online teaching, and financial technologies.
The President expressed his profound gratitude to the leadership of the World Economic Congress for honouring him to engage with an array of stakeholders attending the summit.
@NyembeziMu
Online Reporter