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Official opening statement by the Prime Minister of Zimbabwe, The Right Hon. Morgan Tsvangirai, at the 5th International Business Conference
Prime Minister Morgan Tsvangirai
April 25, 2012

The Vice President, Hon Joyce Mujuru,

The Minister of Industry and International Trade, Prof. Welshman Ncube

All ministers here present,

The Chairperson of the NECF, Dr Robbie Mupawose,

Captains of Industry, both local and international,

Labour Union leaders,

All smart partners,

Invited Guests,

Ladies and Gentlemen

It is a great pleasure for me to be with you this morning at this auspicious event.

Today is an important day on the business calendar of our country.

Any business conference is welcome in this country because we are at that delicate stage where we need investment in both new and old ventures so that we can create jobs for the millions of our unemployed citizens.

This is because while we need new investment, we also need to resuscitate our ailing industrial sector and bring back the noise in those silent factories.

My tours across the country to assess GWP projects have been a sorry sight. Closed companies, old equipment, retrenched workers and ghost towns have been the story of Zimbabwe and we need to avail resources to resuscitate these companies.

This is why as government, we set up Dimaf, a $40 million collaborative fund between government and Old Mutual Zimbabwe (OMZ) to bail out distressed firms here in Bulawayo.

In this town alone, 80 companies were closed, leaving 20 000 workers jobless. I am aware of the concerns from various stakeholders regarding the disbursement of this money and I pledge to ensure that this money is immediately disbursed for its intended purpose.

We have done this because government has a critical role in promoting investment, technological enhancement and utilization of the rich resource base for the building of Zimbabwe's industrial base on a very solid foundation.

Zimbabwe's fate is in our own hands and all of us have a role to play. That is why at NECF the motto rightly is, "Together We Make Zimbabwe Great".

Ladies and Gentlemen, the key issue here is how do we reshape our economic destiny, and create a national economy which can best respond to expectations of our citizens for jobs, decent earnings, stable prices, attract foreign direct investment, sustained economic growth and development.

The citizens of this country deserve as a right, an industrialized stable economy which can provide adequate goods and services at prices which are affordable to consumers and viable to business.

Zimbabweans across the board have clear expectations on how their national economy should function and be managed. They expect specific deliverables from Government, labour and business.

At the present moment, we are all challenged by contemporary exigencies to mobilize our inner strengths to overcome social and economic challenges from within ourselves which constrain the ability of our economy to satisfy the requirements of our citizens.

We have a starting point in that we boast of a good education system that has seen us become one of the top two countries in Africa with the highest literacy rate.

What has happened in the last two years under the Inclusive Government clearly demonstrates that in those instances where we have acted with a common purpose, we have provided hope to the nation that we can rebuild this country to be the envy of many again.

So we remain a country of hope and opportunities; a country with such a large potential for growth that our option is either to destroy or nurture that potential.

Some of us want to nurture that potential and we have publicly differed with those policies that do not address job creation or send the correct message to investors.

We say no to all forms of machinations that seek to destroy the national wealth for the common good. We endeavor to grow the national cake in a more just, equitable and sustainable manner by focusing more on creating new wealth while preserving and growing existing wealth.

This is the true spirit of a national empowerment policy that every well-meaning Zimbabwean should be pursuing.

The central role of Government in the National Economy remains that of creating an enabling environment for business and labour to engage in actual production and output of goods and services.

We must look back with honesty and examine where things went wrong in order to reconnect with the successes of the past, looking at all the key issues required to industrialize Zimbabwe. We have witnessed the restoration of some of the basic principles that made the country so successful.

I cannot overemphasize the need for government to move with speed to restore the collateral value of land and other commercial assets to leverage our natural heritage. One of the reasons our farmers and indigenous entrepreneurs have not been as successful is the failure to access the much needed capital as land remains a dead asset with huge potential for financial leverage.

The policies and regulations we must now put in place are those that will lay fundamental principles which enhance business confidence, wealth creation and attract foreign direct investment.

Government provides policies with respect to the direction and purpose to be taken by the national economy. It is also a key public responsibility of Government to set competitive standards and deterrent penalties in order to protect the public as well as enhance corporate governance.

Those habits and attitudes that favour speculative behaviour, rent seeking, arbitrage, greed and selfishness must be dealt with ruthlessly so that a new brand of entrepreneurial robustness is built.

Ladies and Gentlemen, our biggest challenge is to demonstrate to the rest of the world, our capability to turn our rich resource base into an industrial hub, offering far greater opportunities for economic prosperity, value addition, industrialization, political stability and poverty alleviation.

Our regional geographical location and superb climatic conditions on their own, give us comparative advantages that no other country has. Indeed, Zimbabwe can easily be the regional transport and goods distribution hub.

Zimbabwe is part of the global economy. As such, we are seeking to harness financial, technological and market opportunities, which grow our economy.

As a Government, we are rebuilding collaborative arrangements with private investors, international cooperating partners and financial institutions such as the recently signed Interim EU-Economic Partnership Agreement.

Coupled with this, is the need for all of us to commit ourselves both as business, labour and the public sector to sound management of the national economy.

Sometime last year, I was invited to a business forum and a concern was raised that as government we should assist in arbitration so that wage demands are in sync with productivity. There must be trust between labour, business and government as we try to recover our economy.

It is imperative that all smart partners and stakeholders in the national economy act with a single resolution and communicate their single determination to grow Zimbabwe's economy and wealth.

This is no time for unnecessary political discord but for putting in place policies that promote investment and create jobs for our people.

The basis for establishing international confidence in our economy is sound national economic management. Wealth creation and wealth sharing are not negotiable. Explicit rules and policies for managing win-win partnerships are a must for the complete reconnection, restoration, reconstruction and growth of the economy.

As Government, we are fully aware of the challenges before us which range from a huge debt burden, the shipping out of unprocessed precious minerals, lack of funding for infrastructure such as road and rail networks, energy shortages, low capacity utilization in manufacturing and low employment levels.

Our major set-back in dealing with these challenges to achieve our full potential as a nation has been our bad and poisonous politics, our uneasy coalition which has bickered more than it has collaborated to set the correct tone for economic growth and development.

I know the efforts we are making as a government to deal with enablers such as energy to both corporates and ordinary homes, but I am not satisfied with the pace, particularly in the rehabilitation of our roads and railway network.

But while enablers such as provision of adequate power have remained a challenge, I am happy in the great strides we are making in ICTs, which is a critical sector that spurs economic growth and citizens' participation in national affairs.

Our national challenges will not disappear on their own. We should have a collective national resolve to cooperate and create opportunities and partnerships which will enable our country to benefit from the vast wealth potential which this country possesses.

Zimbabwe's economic growth requires all of us as the key stakeholders to work together in a smart partnership way.

Ladies and Gentlemen, Zimbabwe is endowed with sufficient human and natural resources to create sufficient wealth for all its citizens. Aspiring to be rich individuals is not good for anybody except the selfish. It is more sustainable to aspire to be citizens of a rich country.

The responsibility to save and protect the quality of life for all must preoccupy us at corporate level, in business, labour and in politics, irrespective of race, colour, tribe, religion or political affiliation. It is a historic burden borne by all those who offer to serve people.

The NECF must continue advising us in government on policy and institutional adjustments so that we drive a new development agenda that will sustain wealth generation for our country and Zimbabwe's goodwill in the international community.

I urge the NECF to remain committed to providing the platform for dialogue, a constant presence across the board in both public and private sector institutions, and to ensure responsiveness of policy in a timely and effective manner to sustain Zimbabwe's wealth generation.

All smart partners and stakeholders must stay engaged at all times as their inputs are taken seriously. I urge you to continue to uphold the values of corporate governance, trust, respect, shared vision, cultural diversity, transparency, fair play and equality.

As Government, we pledge to continue doing our best, even in the circumstances, to promote economic growth and job creation.

My vision for Zimbabwe is a place where a credible and legitimate government would be able to address the issues of enablers such as energy, ICTs, road, rail and air transport systems.

We will have to build a strong economy, use market principles with safety nets and targeted policies to promote economic and social justice and to provide jobs and uplift the standard of the people.

My experience as Prime Minister of Zimbabwe is that peace is a key factor for investment. That is why tolerance and respect for our diversity are key ingredients of luring investment.

This coalition has achieved a lot in the last three years.

But our experience has shown that only a legitimately elected government, and not a coalition, can develop and implement a common vision and programmes that will deal with the massive unemployment and poverty that Zimbabwe currently faces.

Our country requires a break from the past; coupled with a clear programme underpinned by political and economic reforms, a commitment to the rule of law, defense of property rights and reward of individual effort.

The immediate challenge for any new government in Zimbabwe would be creating peace and stability and embarking on an aggressive programme of infrastructure rehabilitation, resuscitation of our manufacturing potential and increasing our mining and agricultural productivity.

That challenge for us as the new crop of African leaders is to consign repression and misgovernance to the dustbins and creating a new society with a new ethos and new values that poise us for peace, stability, investment and growth.

As I have said, this is important because our toxic politics has been the Achilles heel in our quest for investment and growth.

Some of us across the political divide represent a new generation whose focus is mainly on building strong economies, creating jobs and developing a qualitative and affordable social delivery system especially in the fields of health and education.

But I tell you, Zimbabwe remains a country of high opportunity.

My faith in this land is unwavering and unshaking.

I have no doubt that we will overcome and that we will concentrate on that which is what Zimbabweans need at the moment and that is job creation. We shall reclaim our tag as a jewel of Africa and I hope as business, you share my optimism.

Yes, I have no doubt in my mind that this country will soon celebrate its glorious moment and every Zimbabwean will be part of a strong and sound economy.

That is the true legacy we should bequeath to the future generations of this country.

I thank you

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