Harness domestic resources for accelerated economic growth – President Mnangagwa President Mnangagwa's arrival in Victoria falls.

Nqobile Bhebhe in VICTORIA FALLS

President Mnangagwa has officially opened the second edition of Zimbabwe Economic Development Conference (ZEDCON 2023) challenging the country to harness domestic resources for accelerated economic growth.

The conference is being held under the theme “Public and Private Resource Mobilisation for Sustainable Development.”

Addressing delegates here in Victoria Falls, President Mnangagwa said the illegal economic sanctions imposed on the country should spur the nation to critically think outside the box and accelerate economic growth.

“As a country under sanctions, we must not bury our heads in the sand but must grow the economy faster than those countries that are not under sanctions,” he said.

He added that external partners are free to assist in development projects but under Zimbabwe’s own terms.

“Zimbabwe is a friend to all and an enemy to none. As such, our country remains open for business to all investors, both foreign and domestic including Zimbabweans in the diaspora.”

He added that Government is collaborating with both domestic and external partners to explore multiple initiatives to harness resources needed for the realisation of Vision 2030.

“I, therefore invite all the people of Zimbabwe, including the private sector, civic society, foreign investors, cooperating partners, think tank and researchers to work together for increased production and productivity in our country,” said President Mnangagwa.

“If we are going to borrow external concepts, we will get lost but it is critical to build the country using our own models.”

The President added that innovation hubs have been introduced in all universities and as a result of innovation hubs, more products have been patented.

He urged industry to collaborate with universities adding that the country should not underrate the immense talent among locals.

“As the private sector, you should not be by-standers but assist in the development and commercialisation of the ideas coming out of our innovation and industrial parks at the various institutions of higher learning.

“All our universities now have innovation hubs and we have introduced industrial parks in each university where they test their innovations and ideas.

“Finance Minister, Professor Mthuli Ncube is giving out university funds. It is good for the private sector to occasionally spend an hour at universities and inquire on their innovations and projects.

“I also urge the private sector to complement Government efforts in wealth creation through the development of infrastructure such as roads, renewable energy power stations and the building of health and education facilities among others.”

On its part, President Mnangagwa said Government will continue to provide a conducive business operating environment which encourages public-private sector partnerships while at the same time guaranteeing stability in the macro-economic environment.

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