Bernard Mutambudzi

Zimbabwe has potential to recover following commitments being shown by the new administration of President Emmerson Mnangagwa, AfDB official has said.

Speaking at the Zimbabwe Infrastructure flagship report for 2019, Principal Country representative, Walter Odere said Zimbabwe was undergoing a transition which was going in the right path.

"Zimbabwe is undergoing a transition as it seems to re-engage fully with the international community, attract foreign direct investment (FDI) and restore confidence in the economy," he said.

He said the new administration was working on various reforms that point to addressing past challenges.

"Infrastructure is key to positive development," he said.

He said investors were interested in good road network, proper aviation industry.

He said African Development Bank was keen on working with Zimbabwe.

Giving his remarks, Principal Director, Fiscal Policy in the Ministry of Finance and Economic Development, Pfungwa Kunaka said the report would be a living document that the country would adhere to.

"We want engagement which is productive, that points to different sectors in the country," he said.

He said Government was roping in the private sector through PPS.

He said the country was working towards achieving Vision 2030 attainment.

He said the aspirations of Vision 2030 were premised on five strategic clusters which include Governance, macro-economic stability and re-engagement, inclusive growth, infrastructure and utilities and social development.

He said the country launched Transitional Stabilisation Programme (TSP) which focuses on stabilising the macro economy and the financial sector.

He said the country was introducing necessary policy and institutional reforms to transform to a private sector led economy, addressing infrastructure gaps and launching quick-wins to stimulate growth