As Zimbabwe, we continue to play our part in advancing the SADC, COMESA and African Union economic development agenda. In partnership with the private sector, we envisage to derive maximum benefit from the operationalisation of African Continental Free Trade Area.
Our businesses are urged to take advantage of the scope that exists from Zimbabwe becoming a transport and logistics hub. This follows the commissioning of the Zimbabwe Walvis Bay Dry Port in Namibia, coupled with other confirmed bilateral investments.
Our SMEs continue to face challenges of inappropriate technology and unsuitable work spaces. Government has since secured a US$2.7 million grant from the Government of India for the upgrading of eleven existing technology and common facility centres located in the country’s ten provinces. Additional state of the art machinery for use in manufacturing activities of SMEs are currently being installed. Going forward, Government is committed to support programmes to build appropriate work spaces for SMEs businesses.
I am also pleased to report that in line with Government’s policy to empower women entrepreneurs, the Zimbabwe Women’s Micro Finance Bank continues to disburse loans to clients throughout the country.
Mr. Speaker Sir, Government is accelerating the operationalisation of the Zimbabwe Investment and Development Agency. Furthermore, we have begun implementing Phase Two of the Ease of Doing Business Reform Programme. It is encouraging that Zimbabwe has been recognised by the World Bank as having made considerable regulatory improvements in five areas measured on the Ease and Cost of Doing Business. This has seen Zimbabwe being cited as a country in the top 20 improvers in doing business.
Mr. Speaker Sir, due to the impact of climate change, our economy is facing severe electricity supply challenges, owing to reduced hydro-power generation capacity at Kariba Dam. To address this state of affairs, we have now restored the cost reflective electricity tariff structure and increased power imports, to provide the much needed short term relief. More innovative initiatives will be implemented to ensure stability in the sector. Meanwhile, ZESA will be restructured to enhance efficiency.
I urge all of us to protect power installations in our areas. Initiatives must be developed at community level to bring to an end criminal activities which destroy these vital installations.
The country has seen some stability in the fuel sector on the back of the introduction of cost-reflective pricing adjustments, coupled with the fuel procurement financing facilities structured by Government. Companies with foreign currency are now permitted to procure their own fuel through registered oil companies.
To curb malpractices in the fuel industry, Government will soon roll out an electronic National Fuel Monitoring System. For the long term, a comprehensive National Integrated Energy Resource Plan is being developed.
Mr. Speaker Sir; the modernisation and rehabilitation of our infrastructure, in particular road networks has resumed in earnest, with noticeable progress. Given that these are key enablers to our national economic revival as envisaged under Vision 2030, we are determined to leap frog the quality of our infrastructure across the country.
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