ZNCR Report to set tone for business  

The Zimbabwe National Competitiveness Report (ZNCR) provides the historic benchmark for the first time and can help build consensus around achieving Zimbabwe’s prosperity, Vice President Emmerson Mnangagwa has said.

Samuel Takawira/Edward Makuzva

Mnangagwa was speaking during the official launch of the Zimbabwe National Competitiveness Report by the National Economic Consultative Forum (NECF) in Harare yesterday.

“The tool is critical in preparing areas which need urgent intervention to enable Zimbabwe’s economic actors to achieve the robust economic growth target of 7%per annum espoused in the national economic blueprint ZIMASSET,” he said.

Vice President Mnagagwa added, the report will improve the country’s business climate.

“The report compliments efforts being undertaken by government to improve the country’s business environment. These include the ease of doing business reforms under the Rapid Results Approach framework which seeks to tackle issues to improve the business environment within 100 days,” explained Mnangagwa.

The ZNRC report which has identified Zimbabwe’s competitive advantages that include human resources, geostrategic, location and abundant natural resources among other advantages is expected to twist the current business setup.

“Being competitive will enable us to exploit the advantages that come with regional Integration,” he said.

Mnangagwa highlighted that government is already making important steps towards addressing the country’s competitiveness.

“The recent amendments to the county’s labour laws, the transformation of the national incomes and pricing commission to the national competitiveness and the ease of doing business reforms that are being pursued through the Rapid Results Approach Framework are evidence of this,” he said

Going forward government will also reduce the cost of borrowing.

“Regarding to finance which has been highlighted as the number one problematic factor with regard to the ease of doing business in Zimbabwe, Government through the ministry of finance and the Reserve Bank of Zimbabwe   has made concerted efforts aimed at reducing the cost of borrowing to a much lower rate,” said Vice President Mnangagwa.

Speaking at the same event Minister of Policy Coordination and promotion of socio economic ventures in the president’s office, Simon Khaya Moyo said the report will aid policy formulation.

“This is aimed at ensuring a collaborative and integrated approach to policy, coordination and implementation .Government is currently coordinating the implementation of similar projects like the ZNCR so as to improve the business climate. Policy coordination entails bringing together various stakeholders with varying interests in any government policy, programmes and policy to ensure their views are taken on board thus ensuring policy clarity and consistency.

“Policy coordination ensures ownership and participation by anyone and eliminates duplication and overlapping of efforts by different arms of government thereby saving on the scarce resources,” Moyo said.

Emerson MnangagwaNational Economic Consultative Forum (NECF)Zimbabwe National Competitiveness Report