Staff Reporter
While officially opening the 2023 International Business Conference (IBC)
at the Zimbabwe International Trade Fair (ZITF) in Bulawayo, this Wednesday, Vice President and Minister of Health and Child Care, Dr Constantino Chiwenga urged Captains of Industry and Commerce to focus efforts on leveraging the latest technologies in a bid to meet the ever-changing demands of the global economy.
He also advised Captains of industry to embrace the tenets of good corporate governance, highlighting that President Emmerson Mnangagwa declared a zero tolerance to corruption.
He added that the economy was changing at an unprecedented pace; hence both businesses and countries must adapt and innovate in order to stay competitive. VP Chiwenga said Zimbabwe must be at the forefront of innovation, and driving change, if the country is to succeed in achieving natural aspirations for an empowered and prosperous upper middle-income economy by 2030.
VP Chiwenga highlighted that the 2023 IBC provided a unique platform for all of us to audit our economic competitiveness within the global context, and to chart a new course in our economic trajectory by adopting and applying innovation at every economic level.
Additionally, VP Chiwenga revealed that Government’s adoption of innovative and responsive policies, coupled with resilience of citizens had led to economic successes across various sectors. He said, “Wide ranging economic reforms have restored confidence among entrepreneurs, and have induced prospective and potential entrepreneurs to come forward and set up new businesses.”
Dr Chiwenga commended companies that upgraded their technologies to stay competitive.
“It is pleasing that in 2022; about 47 percent of the Zimbabwean manufacturing firms upgraded their technologies in order to stay competitive. In 2022, about 39.8% of our country’s manufacturing sector companies invested a total of US$101 million to upgrade technologies and expand capacity,” he added.
Furthermore, the VP emphasised that Zimbabweans should think outside the box and write own history.
The IBC ran under the theme, “Transformative Innovation, Global Competitiveness.”
The Conference was attended by captains of industry and senior Government officials among others. Finance and Economic Development Minister, Professor Mthuli Ncube, Minister of Industry and Commerce, Sekai Nzenza and European Union (EU) Ambassador to Zimbabwe, Jobst von Kirchmann.
