SI 142 will work: ED

By Judith Sibanda

President Emmerson Mnangagwa says he is optimistic that Statutory Instrument 142 of 2019 will yield the desired results and assured the nation that banning of international currencies was going to bear fruits for the local economy.

Mnangagwa said this while officiating at the Zimbabwe National Chamber of Commerce (ZNCC) 2019 annual congress in Victoria Falls on Thursday and called on the delegates to convince the public that the new monetary policy would bring sustainability to the economy.

“We shall continue to deepen the ongoing reform initiatives and not shy away from doing that which is good for our country and the generality of our people,” he said.

“To this end, the ongoing monetary reforms, fiscal consolidation, macro-economic stabilisation, stimulation of growth and the quest to create employment for our people will proceed with increased impetus.

“In our respective spheres, we must take it upon ourselves to explain the new developments especially with regards to the recently gazetted S.I 142 of 2019 to our people. Let us re-assure them that we are on the correct path and the measures we are instituting will bear fruits.”

He urged captains of industry to take advantage of the ongoing engagement and re-engagement policy to enhance their networks with other business chambers from across the world.

“In keeping with the new culture of dialogue, l encourage business and industry to remain in conversation with government on the various issues that affect our economy. Let us all turn a new leaf by shunning corruption in all its forms and unethical business practices. Sustainable economic development will only be achieved through hard honest works.”

Mnangagwa said sustainable economic growth by and large remains the most critical way to expand opportunities, increase wealth, create decent jobs and achieve broad based empowerment across every spectrum of the economy.   

He added that he is optimistic that the Industrial Development Policy was going facilitate the promotion of sustainable, innovative and globally bureaucratic bottlenecks while facilitating the modernisation and industrialisation of all sectors of the economy, as well as Foreign Direct Investment.

The conference which ended yesterday (Thursday) started with an annual general meeting and closed session which ZNCC chief executive officer Christopher Mugaga said focused on issues affecting the economy.

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