daniel chigunwe
Gibson Mhaka
Zimpapers Politics Hub
Organising and hosting a major international event can be a powerful catalyst for social and economic development in a country.
However, to ensure these events deliver positive returns on investment with the benefits extending beyond financial gain to create lasting positive impacts on local communities and minimise environmental disruptions, policymakers must play a crucial role in rigorous planning, budgeting and comprehensive sustainability assessments.
Countries that host such events often experience a persistent rise in recognition and tourism.
This elevated profile can be a powerful tool for attracting business investment, further boosting the local economy.
Zimbabwe’s hosting of the 44th Sadc Heads of State and Government Summit in August presents an opportunity to gain greater international acceptance.
This convergence coincides with regional countries’ focus on industrialisation through infrastructure development and mitigating the effects of El Niño-induced drought.
Hosting the 44th Sadc Summit also presents an opportunity to project the “Zimbabwe is open for business” mantra, attracting foreign investment and improving the country’s business environment.
This is because the “Zimbabwe is open for business” mantra, an initiative designed to attract foreign investment and promote economic growth, aligns well with the theme of the upcoming 7th Annual Sadc Industrialisation Week (July 28 – August 2, 2024), which is “Promoting innovation to unlock opportunities for sustainable economic growth and development towards an industrialised Sadc.”
The theme highlights innovation as a key driver of sustainable economic growth across the region, including Zimbabwe.
The event, where the Confederation of Zimbabwe Industries will assume the chairmanship of the Sadc Business Forum, will be hosted by the Ministry of Industry and Commerce in collaboration with the Sadc Secretariat, the Sadc Business Council, and the CZI.
An expected 150 companies from the Sadc region will participate in the event, comprising private sector players in agro-processing, mineral beneficiation, pharmaceuticals, finance, consumer and capital goods, as well as those in the women and youth, micro, small and medium enterprises (MSMEs), and infrastructure sectors.
The event clearly resonates with Zimbabwe’s “open for business” message. By directly addressing potential investors and showcasing the country’s openness, it aligns with the Sadc summit’s goal of unlocking investment opportunities and fostering an innovative business environment.
At a recent meeting with regional ambassadors ahead of Sadc Industrialisation Week, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu emphasised the importance for the regional bloc to capitalise on available platforms.
He stressed that these platforms would set the tone for growth in the respective member countries.
“Our view and belief is that we need to make full use of the platforms such as the Sadc Industrialisation Week as well as the bilateral and multilateral agreements that we have to strengthen cross border value chains.
“To come up with infrastructure projects that benefit the region in general, we cannot continue being a region that is plagued with such energy insecurity because ultimately they have this disproportionate effect on our industry.
“We need to have stronger rail and road infrastructure networks that will promote trade, so we hope that as you are here we can prepare for a more successful Sadc Industrialisation Week,” he said.
The Industrialisation Week, said Minister Ndlovu, will assist in building coalitions to ensure understanding and cooperation among stakeholders on how to implement the Industrialisation Strategy, including the development of regional value chains.
“In this regard, participation by Sadc member states, private companies, academia, research and technology institutions, will not only showcase investment opportunities within Sadc but will further necessitate innovation and ultimately industrialisation,” he said.
Minister Ndlovu’s remarks underscore how “Zimbabwe is open for business” philosophy and the Sadc Industrialisation Week theme work in tandem to create a more attractive economic landscape for the country.
This unified message not only highlights Zimbabwe’s openness to new investment but also emphasises its recognition of the importance of innovation and responsible practices for achieving sustainable economic success.
An open business environment encourages partnerships between local Zimbabwean businesses and international firms.
This knowledge exchange can lead to innovation in areas like agriculture, mining, and manufacturing.
Collaboration is key to unlocking the potential for sustainable development within Sadc.
A growing Zimbabwean economy benefits the entire Sadc region. Increased trade within the region strengthens overall economic development.
Additionally, a wealthier Zimbabwe can contribute more to regional infrastructure projects, improving connectivity and trade opportunities throughout Sadc.
It is important to note the Second Republic’s foreign policy under President Mnangagwa has been designed in such a way that aids Zimbabwe’s economic recovery, facilitates economic growth, creates employment and encourages a climate conducive to attracting investors into the country.
President Mnangagwa introduced the concept of “Zimbabwe is open for business” by introducing a raft of economic measures to open up the economy to both local and foreign investors.
There is no doubt that economic growth in Zimbabwe can strengthen the entire Sadc region.
A thriving Zimbabwe can make a significant contribution to regional trade and infrastructure development.
At the forthcoming Sadc Summit the “Zimbabwe is open for business” mantra, should be framed in a way that contributes to the broader goals of the summit.
By fostering investment, collaboration, and regional development, Zimbabwe can play a role in achieving sustainable economic growth for the entire Sadc region.
The Sadc summit is also a prime opportunity for Zimbabwe to showcase its commitment to economic reform and attract investment.
There is no doubt that a successful summit could position Zimbabwe as a leading player in Sadc’s economic development.
Online Reporter