Zimbabwe strives to become middle income nation
By Herald
In its initiatives at achieving the target of becoming a middle income economy by 2030, Zimbabwe Investment and Development Agency (ZIDA) is expected to lead the country’s economic revival.
President Emmerson Mnangagwa told the new board in Harare at a meeting with newly-appointed board is chaired by Bulawayo-based industrialist, Mr Busisa Moyo.
Moyo is the chief executive for United Refineries Limited, a large company that makes cooking oil, soap and other products.
President Mnangagwa said Zimbabwe’s drive for economic development would continue after the Covid-19 pandemic, despite the temporary negative impact of the pandemic on global economies.
“In that respect, Government views the ZIDA board as the pillar that will anchor economic revival and raise the country’s global business competitiveness,” he said.
“The board, with the support of the chief executive officer (Mr Douglas Munatsi) and his staff will be at the forefront of programmes aimed at ensuring that the nation attains the objectives of Vision 2030 to create a prosperous, upper middle income and knowledge and technology-driven economy.
“Transformation of that magnitude can only come through hard work and the adoption of international best practice.”
President Mnangagwa said Zimbabwe must be innovative to attract the much-needed foreign direct investment, given the immense competition from other countries on the continent. But he was quick to point out that FDI alone cannot support Zimbabwe’s desired transformation.
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