Online Reporter
Rutendo Nyeve, Victoria Falls Reporter
VICE President Constantino Chiwenga yesterday urged the private sector to play a leading role in the country’s economic transformation and reaffirmed the Government’s commitment to providing a stable and enabling policy environment.
He was delivering his keynote address at the official opening of the Zimbabwe National Chamber of Commerce (ZNCC) Annual Congress, which is underway in Victoria Falls.
Emphasising the critical role of the private sector in driving Zimbabwe’s economic growth, he said this was particularly important as the country transitions from the National Development Strategy 1 (NDS1) to NDS2.
“Zimbabwe is endowed with abundant natural resources, a youthful skilled population, and a resilient private sector.
All these attributes complement Government’s efforts in unlocking our full economic potential,” said VP Chiwenga.
“I encourage the private sector to be pro-active and take a leadership role in this economic transformation journey. Strategic collaboration and partnerships are vital for policy refinement and alignment with market realities.”
His remarks underscored the need for a whole-of-society approach to development, uniting Government, private enterprise, civil society and development partners.
Stressing the need to achieve sustainable economic progress, VP Chiwenga said this cannot be achieved by the Government alone but required collective effort and shared responsibility.
He reiterated the Government’s unwavering commitment to maintaining macroeconomic stability, citing recent improvements in exchange rate discipline and pricing frameworks as evidence of progress.
“The Second Republic remains unwavering in its commitment to sustaining macroeconomic stability. Encouraging signs are already evident in exchange rate discipline and rationalised pricing frameworks,” said VP Chiwenga.
“These developments position Zimbabwe as a more attractive and reliable investment destination.”
He also spoke on the need to enhance productivity and industrialisation, highlighting the “Manufacturing-for-Manufacturing” initiative, which seeks to increase local content and reduce import dependency.
“We are driving the ‘Manufacturing-for-Manufacturing’ initiative under the Ministry of Industry and Commerce, aimed at increasing local content and import substitution.
“This approach will fortify our industrial base and reduce supply-side vulnerabilities.”
Furthermore, VP Chiwenga emphasised the importance of leveraging the African Continental Free Trade Area (AfCFTA) to expand Zimbabwe’s export markets.
“The continental body presents us with an opportunity to trade inward, targeting the over 1,4 billion people for the consumption of Zimbabwean products.
“Therefore, prioritising beneficiation, value addition and innovation is central to increasing export earnings and strengthening economic sovereignty,” he said.
Recognising infrastructure as a critical enabler of growth, VP Chiwenga outlined ongoing investments in transport, energy, ICT and water infrastructure.
He also called upon the private sector to invest in renewable energy solutions to mitigate power shortages.
“Government calls upon industry to explore and invest in on-site generation solutions and grid supplementation strategies. Joint innovation between public and private actors in this space will be critical to building a resilient energy ecosystem,” he said.
In a firm and uncompromising tone, the Vice President condemned corruption and unethical business practices, urging stakeholders to uphold integrity and accountability.
“We must shun unscrupulous ‘so-called businesspeople’ operating from briefcases with no traceable capital or legitimate enterprise,” he said.
“This culture of phantom entrepreneurship, where money appears without any known source, is not only economically corrosive but ethically bankrupt.
“Real businesses are built through hard work, discipline, sacrifice and value creation. The day of reckoning is inevitable for those who undermine our economic integrity by engaging in shadowy dealings,” he said.
VP Chiwenga called for a collective stance against corruption, emphasising that ethical business practices were non-negotiable for long-term prosperity.
“As we deepen public-private partnerships and catalyse economic growth, we must decisively shun corruption in all its forms. I, therefore, call upon all stakeholders to uphold ethical business transactions, transparency, and corporate governance as foundational principles of our commercial engagements,” he said.
VP Chiwenga also urged business leaders and policymakers to use the congress as a platform for forging new alliances and innovative ventures.
“Let’s walk forward from this congress with renewed determination, strategic focus, and a collective resolve to transform Zimbabwe’s economic landscape,” he said.
“Our success lies in unlocking policy-driven growth, fostering inclusive partnerships and embedding a culture of professionalism, transparency, productivity and excellence.”
@nyeve14.
