Byo tour: President’s faith in private sector hailed

PRESIDENT Mnangagwa’s visit last week to Bulawayo is clear testimony that Government is ready to give an ear to the private sector and attract investment both foreign and local, analysts said.

Crucially, the President’s visit is a vote of confidence to the country’s private sector which is expected to play a leading role in reviving the economy towards the attainment of Vision 2030 as defined in the National Development Strategy (NDS1), the analysts added.

Commenting on the President’s visit to Bulawayo last Saturday, United Refineries Limited chief executive Mr Busisa Moyo said President Mnangagwa has been a listening leader.

“We have never hosted such an august and distinguished delegation in the entire history of this company, the last time we hosted a Head of State was 32 years ago. We are grateful that you came to see what we do as United Refineries.

“For us, Bulawayo is merely a location, this company is connected to various parts of this country in many ways, whether it be soya grown in Karoi, Bindura, whether be it cotton grown in Gokwe or any other area, that is processed here in Bulawayo into other products.

“United Refineries is a global company because we import various raw materials that come from Argentina, Indonesia, Malaysia, and other places.

“We are honoured your Excellency to have you here, thank you for being a listening President, leading a listening Government. United Refineries has received support from Government for many years through various initiatives,” said Mr Moyo, who is also chairman of the Zimbabwe Investment and Development Agency.

Apart from touring United Refineries which employs over 500 people, the President also visited Archer, a subsidiary of Paramount Garments, the largest clothing manufacturer in Zimbabwe which employs around 2 000 people.

He also visited Treger Group of Companies which is into aluminium windows and doors, solar geyser, and wheelbarrow production.

His visit ahead of this year’s Zimbabwe International Trade Fair in July was partly to stimulate interest in local products and exhibitions by local companies with economic analyst Mr Farai Ngondo saying the President is leading by example.

“President Mnangagwa last week toured industries in Bulawayo and that in itself is walking the talk. It’s very critical for the Head of State to take a leading role in the implementation of Government policies. He sets the tone.

“All focus is being put on the private sector which is in tandem with the current economic policies. The proper protocol should be the private sector on number one, the government, and then the non-governmental organisations.

“Therefore, President Mnangagwa’s visits to industries remain a critical motivating factor in encouraging growth or private sector productivity. Once the locals are given enough space to operate at optimum level and in the right environment that will attract foreign investors. The fresh capital will have a tremendous impact on reviving the economy,” he said.

“The President’s visit to Bulawayo and elsewhere is clear evidence that Government is ready to give a listening ear, a helping hand as and when is required,” said Mr Ngondo.

Weighing in, economist and researcher Alex Munyonga said President Mnangagwa has demonstrated that the best “fertiliser” in politics is the “farmer’s foot”.

“In this light, physical visits by His Excellency to different project sites is evidence of a quality ‘political gardener’ who defy all odds to make sure campaign manifestos are fulfilled. It is not listening to the concerns of communities that matter in leadership, but actioning projects to arrest the concerns in what counts.

“From a Confucian work ethic, a good leader is like a pole star which remains bright when all other stars have surrendered, the President is leading by example.

“In this respect, the zeal and commitment of HE is a challenge to all Cabinet ministers, legislators, and leaders across the political divide to be more practical than theoretical. True to His Excellency’s words, even in politics, there is no room for moonlighting, leaders must deliver.

“In the Second Republic, no one is allowed to evaporate from the constituency after winning a seat only to condense in the next campaign. Such is alien to the Second Republic whose mantra is to hit the ground running, effect socio-economic transformation across the country and actualise the Vision 2030 dream,” said Mr Munyonga.

Another economist Mr Persistence Gwanyanya said business is always assured when it takes a cue from the highest office in the land.

“It is quite comforting that as a Head of State, President Mnangagwa is taking a leading role in confidence-building. The whole world will take a cue from these gestures by the Head of State. We are quite happy the President has given the policymakers greater latitude to manage the economy without interference and we seeing the results, especially on fiscal responsibility.

“Now, what is more, inspiring is the recent visit by the President to Bulawayo, which used to be the industrial hub to see for himself the situation on the ground at a time when the country is in dire need to rebuild its industrial base.

“Attracting the required capital will undoubtedly require a guarantee of a conducive investment environment and it carries more weight if it’s done by top leadership. Investors are more worried about policy consistence, guarantee for property rights, policy consistency which top leadership has already promised,” said Mr Gwanyanya.

On his part, political commentator Mr. Collin Mharadzano said Zimbabwe is going through exciting times as demonstrated by the fruitful engagements that the President is having.

“One has to visit wholesale and retail outlets to see the increasing usage of the local currency, now the currency of choice for them to realise the rebirth and consolidation of the economic reform agenda. The NDS-1, the sequel to the Transitional Stabilisation Programme is a major economic statement whose intents and purpose are currently being executed and fulfilled. It is a trajectory that will usher the nation into the anticipated Upper Middle Income Economy by the year 2030.

“It’s no coincidence that his recent visit to Bulawayo has its agenda of rebooting the once might industrial hub of the nation All signs are that Bulawayo will rise again given the impetus of the Second Republic in modernising and industrialising the nation. Certainly even the most sceptics are now rethinking and heading to Zimbabwe for another date in the economic realm,” he said.

As part of supporting the private sector, the Government has availed incentives, that include possible increment on foreign currency retention by exporters and also tax breaks and holidays among other measures that are aimed at achieving economic stabilisation, taming inflation, and ensuring the availability of foreign currency in the market.-herald.cl.zw