Wednesday, December 8, 2021
Investment

Mnangagwa vows to get Zim’s economy back on track

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From fin24 by Malcom Sharara

Harare – Zimbabwean President Emmerson Mnangagwa has undertaken during his first State of the Nation Address (SONA) to introduce pro-business policies to attract investment and revive the ailing economy.

He reiterated his inauguration message saying his post Mugabe government is doing everything in its power to make sure the country is conducive for business.

President Mnangagwa will be in South Africa on Thursday where he is expected to address the business community and potential investors.

This will be his first trip outside the country since becoming President.

Since his maiden speech after taking office, Mnangagwa’s message has been focused more on economic issues than politics.

Mnangagwa said his government is carrying out a comprehensive review in the harmonisation of investment laws and policies to boost the drive for foreign direct investment.

He added that his government will soon unveil a robust engagement and re-engagement programme with the international community in its continued bid to rejoin the community of nations.

“My government is committed to open Zimbabwe up to investment by building a free, and transparent economy which benefits Zimbabweans and is welcoming to outsiders.”

He said for that to be achieved there is a need for all stakeholders to work together in the interests of building a strong economy for the benefit of both current and future generations.

On state enterprises that have been a drain to the fiscus, he said government had taken the bold decision to reform, commercialise or wind up some state enterprises and parastatals.

“SOEs have been for a long time an albatross around the government’s neck owing to, inter alia, poor corporate governance, under-capitalisation, unsustainable salaries and allowances, and excessive borrowing.

“A full programme of the reforms shall be unveiled during the first quarter of 2018,” he said.

President Mnangagwa also spoke on corruption saying it remains the major source of some of the problems faced by the country, and has been retarding impact on national development.

 “My government will have a zero tolerance towards corruption.  Economic developments require a clean government.”

Source:- https://m.fin24.com/Economy/mnangagwa-vows-to-pull-investment-into-zim-20171220

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