Mnangagwa says he will put greater emphasis on market-driven policies

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    Harare – In his inauguration speech on Sunday President Emmerson Mnangagwa said his Government will in the next five years, accelerate industrialisation, modernisation and mechanization with a greater emphasis on market- driven policies.

    Furthermore he said, comprehensive strategies will be put in place to stimulate the value chains across local industries and commerce.

    President Mnangagwa said now it is the time for all Zimbabweans to unite and grow the economy.

    “Let us courageously and diligently embark on a shared journey towards the realisation of our national Vision to transform Zimbabwe into a middle income economy, with increased investment, decent jobs, broad based empowerment, free from poverty and corruption by 2030.

    “Building on the achievements in agriculture, mining, manufacturing, infrastructure and tourism, as a result of deliberate policies we made in past nine months, my Government will consolidate the growth of the economy.

    “We will modernise major roads, airports, railways and border posts. Through modern infrastructure, we will connect Zimbabweans, to each other, to the region and to the world,” he said.

    President Mnangagwa also said his Government will facilitate a more coherent SME framework to strengthen production links across businesses and industry and concerted efforts will therefore be put in place to improve economic efficiencies through the use of appropriate technologies and innovations.

    “There is need for the modernisation and revamping of our social services sector to improve the efficiency and quality of service delivery. My Government will move speedily to refurbish and construct health, education and water and sanitation infrastructure. This is a promise we will deliver.”

    He said in a bid to vault the industrialisation process, we have set up incubation hubs, encouraged innovation and inventions to ensure that our education sector speaks to the present and future socio-economic technological and scientific needs of our country.

    Internally, President Mnangagwa said he will speed up the efforts to improve the ease and cost of doing business and economic competitiveness.

    “Measures will be put in place to promote domestic savings in support of the national development agenda. Furthermore, necessary steps will be taken to create fiscal space through rationalisation and cost-cutting measures.

    “Measures will be taken to correct the fiscal imbalances that threaten to undermine the viability of the financial sector as reflected through the spiralling cash shortages and the distortions plaguing the foreign currency exchange market,” he said adding that through the engagement and reengagement policy, Zimbabwe is opening a new chapter in its relations with the world, underpinned by mutual respect, shared principles and common values.

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