6 things Zimbabwe has to do to revive its economy- Mnangagwa

In respect of extortionate pricing, we have exhausted moral suasion as a way of causing sanity in the market.

Indiscipline in the market is now so entrenched and even obstinate that it is increasingly becoming a political challenge to the whole establishment. New tools are now needed to deal with the problem. It is Government which gets blamed; it is Government which must tackle this wanton abuse in the marketplace. We are determined to do just that.

Fourth, we must now develop a comprehensive masterplan and response to results of the National Skills Survey, which revealed serious skills gaps in the Economy, all-round.

This national skills strategy should talk to our whole industrialisation and beneficiation strategy designed to create local value chains initially for meeting local needs. Happily, work has already begun at all our tertiary institutions.

The masterplan should also integrate technologies we need to either develop, adapt or re-engineer for local needs. On that score, our innovation hubs are key.

Fifth, both our Zimbabwe Investment and Development Agency, ZIDA, and our ZimTrade must scout for investors and investments, as well as markets, which talk to our Make in Zimbabwe Strategy.

As we launch value chains for the local market, we must keep our eyes focused on exports as well. For far too long, we have waited to be found by foreign investors, instead of going out to pointedly accost foreign investors to key strategic areas we identify and prioritise as an Economy. That must now change so we are deliberate in our quest for FDI.

Sixth and critically, as with our infrastructure masterplan, we must invest in capital goods and technologies which go with local value chains we already have or wish to start. As I write, Government’s infrastructure masterplan caused companies involved to invest in road construction machinery. We are now very strong in that area.

The same must happen in other areas. For instance, before long, Zimbabwe will be a major steel producer.

We should be thinking ahead so we prepare for local machine building and local tools manufacturing, now that steel will be easily available in the country.

Are we scouting for partnerships in that direction so we graduate to light-to-heavy industries so we lessen our capital goods imports, and so we get better earnings and create quality jobs?

The same holds for precious minerals where production is growing in the context of our US$12 billion Mining Economy.

What matching value chains are we planning for in that area?

We must believe in ourselves and set our targets high enough for a self-reliant Zimbabwe.

Indeed Nyika Inovakwa Nevene Vayo.

By Emmerson Mnangagwa for the Sunday Mail

(429 VIEWS)