Proposals have been put forward for the government to expedite the economic reform process, take lessons from other countries which have walked the industrialization route and enhance the competiveness of the local industry.
Developments on the economic front, in particular the strong performance by the agricultural sector, improved capacity utilisation level on the manufacturing sector, the narrowing of the trade deficit and new investments have brought about a sense of optimism among the domestic business community.
Zimbabwe Investment Authority (ZIA) CEO, Mr Richard Mubaiwa said the fast improving government – private sector relationship should be commended, and called for increased investments in the manufacturing sector to unlock its potential.
Grain Millers Association Chairman, Mr Tafadzwa Musarara said the current economic gains should spur both the private sector and government to double efforts in achieving the much desired economic transformation and industrialisation.
Going forward, business is convinced that unlocking economic growth will require establishment of export-oriented industries and expediting the economic reform process.
While commending the government on the economic reform drive, the private sector has challenged government to tackle the fiscal-imbalance given the unsustainable expenditure bill which stood at $4.9 billion in 2016.
As part of the recommendations, the government say there is need to tackle the prevailing indiscipline and corruption on the domestic market, finalisation of the arrears clearance and revival of key institutions such as ZISCO STEEL and the National Railways of Zimbabwe.