Online Reporter
Judith Phiri, Business Reporter
THIS week, all roads lead to Bulawayo for the inaugural National Competitiveness Commission’s (NCC) Annual Competitiveness Summit at the Zimbabwe International Exhibition Centre (ZIEC).
The event is scheduled for Wednesday and Thursday.
President Mnangagwa is set to grace and officiate at the high-level gathering.
The platform is set to provide a dynamic convergence of Government ministries, departments and agencies, captains of industry, think tanks, and development partners.
Other delegates to engage in dialogue and develop sustainable reforms and resolutions that will improve productivity and competitiveness include NGOs, international partners, local authorities, academia, and State-owned enterprises.
In a concept note shared with this publication, the Commission stated that hosting the Summit aligns with international best practices, such as the Global Federation of Competitiveness Councils Annual Summit, and supports one of the Commission’s functions, which includes providing a platform for dialogue between the public and private sectors, labour, academia, and non-State actors on the subject of competitiveness.
The event will serve as a powerful tool for building national consensus on enhancing the country’s global competitiveness and fostering collaboration, innovation and adaptability among stakeholders.
NCC said the event will also highlight the importance of competitiveness in the economy.
“Competitiveness is the major force driving economic activity in the global economy. Innovation and global investments are flowing towards those countries deemed highly competitive, and these benefits are fundamental in steering Zimbabwe towards the achievement of Vision 2030,” said NCC.
It said competitiveness was essential for the attainment of Sustainable Development Goals (SDGs) and by incorporating sustainability into the competitiveness agenda, Zimbabwe can ensure that economic growth does not come at the cost of environmental degradation.
NCC said sustainable development will improve food security, water management, and climate resilience.
NCC added: “By improving competitiveness, Zimbabwe can achieve higher GDP growth, diversify its economy, and reduce dependence on external assistance. Competitiveness fosters greater productivity and innovation, leading to job creation and poverty reduction.”
It said national competitiveness reflects the rise in living standards and it has become one of the major current issues of international macro-economics and international economic policy.
The NCC said a more competitive economy will attract investments in key sectors such as agriculture, mining, and manufacturing, which can create jobs and improve living standards.
This can also reduce the brain drain by providing skilled workers with better employment opportunities at home.
On improving competitiveness, it said: “It will help Zimbabwe enhance its international profile, secure trade deals, and attract foreign investors. Stronger ties with international partners will increase access to global markets, boosting exports and foreign exchange earnings.”
Highlighting the objectives of the Summit, NCC said it will identify policy gaps, which are crowding out national competitiveness from the private sector’s perspective and develop resolutions as well as strategies to close gaps.
It will also raise awareness of the importance of Regulatory Impact Assessment as well as benchmark Zimbabwe’s performance against other countries and draw lessons from countries such as India and Mauritius, where esteemed speakers from those countries are expected to be part of this competitiveness journey.
The NCC said the Summit will proffer possible areas of intervention that are key in enhancing a competitive business operating environment.
The NCC said deliberations during the summit will be constituted by presentations and interactive panel discussion sessions on some of the topics that include regulatory impact assessment as a key driver of competitiveness — experience from an international perspective.
Among the topics are industry and business perspectives on competitiveness, fiscal policy measures to promote competitiveness and ease of doing business in Zimbabwe and monetary policy measures to enhance competitiveness in Zimbabwe.
Using novel financial architecture to mobilise resources for women and youth in business to enhance sustainable industry productivity and competitiveness, accelerating energy transformation and seizing emerging opportunities for driving competitiveness as well as transport infrastructure as a key enabler of competitiveness will also be covered.
Registration to attend the Summit is still ongoing and those interested should register on https://bit.ly/4aIpx9P?r=qr or email [email protected] and [email protected]
