by Derick Tsimba
Zimbabwe’s economy is in dire need of productive entrepreneurs who should focus on the manufacturing of goods for the export market as the means of reclaiming the countries industrial sector and generation of foreign currency.
The New Government under the leadership of President ED Mnangagwa has brought with it new expectations and hopes for economic development through engagements with the international community.
A call by the President to re-engage with the international community breathes life to our country’s industrial sector. The country needs to focus on its capabilities through export focussed entrepreneurs and produce for the international community. Production for the international community ensures that the nation as a whole becomes renowned for its export quality commodities internationally thereby creating continuous wealth for our nation.
Our country has been blessed with mineral resources and land; so far Zimbabwe has been doing well through the production of the golden leaf and export of minerals which have been the country’s top leading foreign currency earners.
In this light, the economy has a potential to perform well through the provisions by command agriculture, tobacco production will certainly increase in the upcoming years. Last year (2017) tobacco earned US$ 420.6 million as compared to this year earning US$515.1 million during the same period recording a US$95 million high. Farming is seasonal hence the country needs a continuous inflow of foreign currency which should be possible through manufacturing goods for the export market.
Government has so far managed to identify special economic zones which shall soon be responsible for manufacturing goods for the export market. The move has been facilitated through the Special Economic Zones Authority which was established following the gazette of the Special Economic Zones Act in 2016. The nation endeavour to boost exports and attract investors has already been in motion; there is need of creating employment as well as foreign currency generation through a functional export utility.
President ED recently revealed some of the special economic zones that include Harare as the technological zone, Bulawayo as the industrial hub, Victoria Falls as the tourism zone, Kwekwe and Redcliff as the iron and steel zone,
President Mnangagwa has always been reiterating the importance of implementing special economic zones for the purpose of luring investors. The President revealed that the special economic zones are very effective for promoting the industrial sector under appropriate technologies and strategies, through this strategy, Zimbabwe would make a mark in comparison to the Asian Tigers.
Under the New Government our country has chosen a path that has been a success story to other nations abroad on their quest to attain economic development.
Through value addition and beneficiation, our country also has the potential to retain foreign currency from unprocessed raw materials which are crossing the country’s boarders daily from the mining and the agriculture sectors.
Recently, the ZimTrade acting CEO Allan Majuru said that the country should consider value addition to grow non-traditional (new) exports in a move that should ensure the country reduces its trade deficit significantly.
On this endeavour the New Government has promoted ZimTrade to harness investors being lured by Mnangagwa’s administration to create an economy that should be based on exports.
The country should also capitalise on identifying imported goods for substitution through local production via establishment of foreign based companies to produce locally in Zimbabwe as in the case of Surface Wilmar, a cooking oil producing company.
It’s a must that entrepreneurs centred on the export market emerge in our economy, the present day calibre of entrepreneurs who have been hoarding goods and selling foreign currency and bond notes on the black market should be done away with, if we are going to revive our economy.
