arthur mutambara.jpgGreater co-operation between government and the corporate world has been cited as a crucial factor in shifting the country’s economy from stability to growth.

 

Addressing members of the Zimbabwe Institute of Management on what government is doing to attract investment, Deputy Prime Minister Professor Arthur Mutambara said there is need for team effort in stimulating economic growth.

 

He said government remains committed to creating a conducive business environment despite the many challenges being faced.

 

Deputy Prime Minister Mutambara castigated banks for not showing confidence in local lending business as they are not lending the required finance.

He also spoke at length about illegal western sanctions imposed on the country, the indigenisation law and the global political agreement. 

Zimbabwe Institute of Management President Mr. Lovemore Matsika said business will continue to co-operate with the government, noting the need for government to incorporate industry’s views. 

“Yes as business we have always worked with the government and remain committed to doing so. Government should also be committed to dialogue with business,” said Mr Matsika.

Economic performance has been slow in the first quarter of 2010 due to low production capacity in industry, lack of capital, low disposable incomes and subdued investment among other variables, although some sectors such as mining are performing well.

Government and industry regularly interact to share views on economic affairs and of late the Indigenisation and Economic Empowerment Act has been dominating discussion in business circles.