Herald Business to host conference in SA Minister Chinamasa
Finance and Economic Development Minister Patrick Chinamasa addresses participants at a Herald Business-organised breakfast meeting

Finance and Economic Development Minister Patrick Chinamasa addresses participants at a Herald Business-organised breakfast meeting in Harare

Business Reporter—
Zimbabwe’s leading daily business newspaper, The Herald Business will tomorrow host a business breakfast under the theme, “Investing in Zimbabwe — opportunities for South African businesses and Zimbabweans in the Diaspora” on Friday 21 November 2014. Some of the speakers at the business breakfast will be Zimbabwe Finance and Economic Development Minister Patrick Chinamasa, Minister of Transport and Infrastructure, Obert Mpofu who will be represented by his deputy Mrs Petronella Kagonye, Minister of Trade and Industry Mike Bimha, and the Reserve Bank of Zimbabwe Governor Dr John Mangudya.

The need to attract investment is a theme that runs across most initiatives detailed in the Zimbabwe Agenda for Sustainable Socio-economic Transformation, Government’s economic blueprint covering the period 2014-2018.

The Zimbabwe Agenda for Sustainable Socio-economic Transformation is the country’s policy plan aimed at harnessing the relationships and linkages that exist between the various facets of the economy, with particular focus on Food Security and Nutrition; Social Services and Poverty Eradication; Infrastructure and Utilities; and Value Addition and Beneficiation.

The policy emphasizes full exploitation of the country’s resources and makes use of a results-based management plan to provide the framework for annual national budgets.

According to Finance Minister Patrick Chinamasa, Zimbabwe is presently facing some challenges, but despite these challenges, the country offers great investment opportunities.

“For any country looking into economic growth and socio-economic development, it is necessary to engage relevant stakeholders and investors to assist and boost economic growth through investments.”

“We think it necessary to engage the business community in South Africa as we have found that there is a negative perception as well as a lack of on-the-ground understanding of the economic situation in our country, he said.”

“Due to ailing industry and economy in general, Government revenues are falling, affecting central Government’s ability to discharge its financial obligations.
“With a mere $4,1 billion national budget, a huge wage bill means most of Government’s revenues are consumed in recurrent and employment costs expenditure.

“It is important to, however, highlight that opportunities in infrastructure and transport abound, we just need to find the right partners who will go the mile with us to take the country to the next level of growth,” said Minister Chinamasa

Minister Chinamasa will give the keynote address on Zimbabwe’s new economic policy thrust and policy incentives for the Zimbabwe Diaspora.
Minister Mpofu will present on Infrastructure and Transport Sectors in Zimbabwe for the South African investor and Investment Opportunities in the Infrastructure and Transport sector for the Zimbabwe Diaspora.

Minister Bimha will speak on Building Bridges for Trade and Industry between Zimbabwe and South Africa and Industry and Trade opportunities for the Zimbabwean Diaspora.

The Reserve Bank of Zimbabwe Governor Dr John Mangudya will speak on the state of the Zimbabwe financial sector and investment opportunities. The issue of indigenisation will also be discussed.

The Herald Business editor Ms Happiness Zengeni noted: “As a newspaper, we commend Government’s efforts to attract investment, and trust that these efforts will yield results for our investors and partners, for the country and the people of Zimbabwe.”

“We at The Herald Business deem it important to play a part in facilitating investment into Zimbabwe to complement Government efforts towards economic turnaround,” she said.

“We believe it is necessary to fast track the process of socio-economic development through investments, in order to improve the livelihood of people and communities in Zimbabwe.”

The business breakfast will take place at the Industrial Development Corporation (IDC), 19 Fredman Drive Sundown, Sandton, 8am for 9am-11am.

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