Staff reporter
While officially opening this year’s 61st edition of the Zimbabwe International Trade Fair (ZITF) in Bulawayo yesterday, the Patron of the ZITF, President Emmerson Mnangagwa urged investors to fully utilise the trade fair to explore trade and investment prospects across the various sectors of the economy.
He said the space occupancy at the ZITF, which he put at 90 percent, was a sign of confidence in the Zimbabwe economy.
“This also serves as a testimony of the confidence stakeholders have in Zimbabwe’s economy. The demonstration of solidarity and cooperation must be consolidated for the realisation of a shared prosperous future and sustainable socio-economic development,” said the President.
The President applauded the ZITF Company for complementing Government’s engagement and re-engagement policy thrust.
He said: “My administration’s engagement and re-engagement drive remains a fundamental building block towards opening up our economy, attracting investments, growing exports and penetrating global markets. I, therefore, commend the ZITF Company for introducing the inaugural Diplomatic Forum which will complement the policy thrust and undoubtedly advance the overall objectives of our focus on economic diplomacy.”
President Mnangagwa said the budget surpluses and contained inflation were a demonstration of fiscal discipline within the Government. He added that the country’s foreign currency earnings which had reached over US$5 billion, was testimony that the economy had attained a growth rate which was not imaginable, especially during a pandemic.
The ZITF Patron said efforts to transform the economy from an exporter of predominantly primary products to higher nodes of industrial production were underway. He implored Ministries, Departments and Agencies to speedily facilitate the procurement of capital equipment and other critical industrial essentials needed by the private sector.
The President said Government’s investment in infrastructure was aimed at boosting trade and investment.
“Early next month, I will be opening part of the upgraded and modernised Beitbridge Border Post. In line with the philosophy that ‘Roads are an economy,’ major roads are being rehabilitated throughout the country. The strategic investment by my Government must be seen as an enabler to boost trade and investment, both at national level and within the respective provinces and districts.
“The scheduled completion of the Robert Gabriel Mugabe International Airport in June 2022, coupled with increased air access within the country also present opportunities for increased travel, trade and tourism,” the President said.
In line with the Government’s Devolution and Decentralisation agenda, the President implored business, commerce and industry to invest in various provinces and districts leveraging on their diverse comparative advantages and endowments.
The President also urged business and industry to take advantage of opportunities presented by the African Continental Free Trade Area (ACFTA). He said his Government was building robust, digitally enabled economic infrastructure that empower the citizenry to access opportunities under the single market.
This year’s edition is running under the theme, ‘Showcasing the New Normal for Business and Industry: Realities and Opportunities.’ Over 400 local exhibitors and 11 countries participated in this year’s edition which had been postponed twice due to the global pandemic.
