‘Promote property rights’

Peter Matambanadzo Senior Reporter
Zimbabwe should come up with a favourable macro-economic policy environment, clear and transparent property rights as well as proper pricing policies for the country to industrially develop, South Korean ambassador to Zimbabwe Mr Kwang-Chul Lew has said.
He was speaking during a public lecture at the University of Zimbabwe on Tuesday on the development model adopted by South Korea, which transformed its economy to become one of the four leading economies in Asia after China, Japan and India.

“The transformation of Korea’s rural area has been based on favourable macro-economic policy environment, clear and transparent property rights, technology, market access and proper pricing policy,” said Mr Kwang-Chul.

“So, I can say proper policy is a necessity for proper development. If you want proper development you need proper policy.”
Mr Kwang-Chul said action and thorough implementation of policy was crucial for the development of any nation.

“Policy is one thing, but implementation is another thing,” he said.
“Implementation of policies is most important. Whatever beautiful policy you may have, unless you execute 100 percent, nothing will come out.

“That’s what Korea did. If you make a plan and you implement it hundred percent you will be satisfied with the results.”
Mr Kwang-Chul said Government should come up with flexible policies that ensured farmers were given incentives to encourage production.