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President Mnangagwa (right) mingles with the public during a tour of stands at the ZITF yesterday. Accompanying him are Vice-President Constantino Chiwenga (left with scarf) and Industry, Commerce and Enterprise Development Minister Dr Mike Bimha (centre with scarf). (Picture by Eliah Saushoma)

Mashudu Netsianda, Senior Reporter
PRESIDENT Emmerson Mnangagwa yesterday said his Government will not tolerate impediments on the path towards economic recovery, warning that saboteurs bent on frustrating progress will fall by the way side.

Officially opening the 59th edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo, President Mnangagwa said his Government was on a rigorous investment promotion drive through re-engagement efforts under the “Zimbabwe is open for business” mantra so as to attract increased foreign direct investment, boost production and create jobs.

“My Government will not tolerate any form of public sector lethargy, undue delays, bottle necks, bribery and corruption. Those that will be impediments in the economic growth agenda will fall by the wayside,” said the President drawing thunderous applause from the multitudes gathered in the ZITF main arena.

“Residual resistance of any kind is unacceptable. Sustainable economic growth will be achieved by us together (that is) the Government, the private sector and foreign investors alike.”

The President said on-going reform measures have yielded overwhelming response from potential investors from various destinations. As such, he said, firm investment commitments have been made, adding that the Government was committed to ensuring the materialisation of negotiations currently underway.

“In the same vein, we continue to take bold steps to reform various State-owned enterprises and parastatals to ensure that they contribute to the inclusive growth of our economy by lowering the cost of doing business and enhancing overall business convenience,” he said.

President Mnangagwa said Government would forge ahead with parastatal reforms and explained that some public entities would be disbanded, merged or privatised. To that end, he directed all public sector office bearers in various Government ministries, departments, agencies and State enterprises to play a leading role in facilitating both domestic and foreign investment and ease the business environment.

President Mnangagwa also pledged consistent engagement with all stakeholders to further improve the business operating environment.

He assured existing and potential foreign and local investors that their businesses were safe in Zimbabwe.

“My administration will continue to ensure that Zimbabwe is a place where business feels safe and can grow and thrive. Let me equally reiterate the safety, security of investments and protection of private property rights,” said the President.

He said this year’s edition of the ZITF, which runs under the theme “Sustainable Industrial Development: inclusive, competitive, collaborative,” resonates well with the Government’s economic thrust that priorities industrialisation and modernisation as fundamental aspects to sustainable economic growth as envisaged in Zimbabwe’s Vision 2030.

“To attain this vision, to have Zimbabwe become a middle income country by 2030, decent jobs, broad based empowerment, increased investments, free from poverty and corruption requires collaborative efforts from all stakeholders,” said President Mnangagwa.

He said Government, on its part, was implementing a plethora of reform measures to increase viability and competitiveness of business across all sectors of the economy.

“My administration recognises the need for a comprehensive approach to attract both domestic and foreign investment in the quest to leapfrog our economy to be one of the most industrialised economies in Africa,” said the President.

On the domestic front, President Mnangagwa said mechanisms have been put in place to support the resuscitation, retooling, expansion and modernisation of various industries through fiscal and monetary incentives. He challenged the domestic industry to desist from being merely spectators or commentators in the current economic agenda, saying they should be at the forefront of collaborating and partnering Government in exploiting available opportunities.

President Mnangagwa assured civil servants and security forces that their conditions of service and standards of living would be enhanced as the economy grows. He said in its efforts to drive the growth of the economy, Government has set agriculture, mining, manufacturing, tourism, infrastructure development, ICT and the financial services sectors, as areas of priority. — @mashnets.