Middle class economy possible, says CZI

Middle class economy possible, says CZI
Published: 25 April 2018 (176 Views)
THE Confederation of Zimbabwe Industries (CZI) says President Emmerson Mnangagwa's drive towards a middle-class economy by the year 2030 is possible if Zimbabweans work together to increase productivity.

President Mnangagwa recently set out a clear vision for youth to have decent jobs and to benefit from broad-based empowerment initiatives that will move them out of poverty and set a target for a middle class economy by 2030.

Since coming to the helm of Government last year, President Mnangagwa has enunciated policies aimed at attracting investment into the country and increasing employment opportunities.

Such a target is feasible, CZI national president Mr Sifelani Jabangwe, says, and local firms are keen to develop closer partnerships with foreign industrial associations to tap into their expertise and contribute to robust economic growth.

"The thrust is that we need to modernise and what has been highlighted by His Excellency (President Emmerson Mnangagwa) that we need to be a middle class economy by 2030 and this is what we have embraced as CZI," he said while addressing a recent CZI Midlands Chamber roundtable gathering.

"So the issue now is how do we get there and we have said Midlands as a chamber should develop closer relationships and partner foreign industrial associations so that we develop our own industries to develop in different lines of businesses."

Mr Jabangwe said industrialists in the country were looking for closer cooperation with industrial bodies of nations such as India, China and Italy among others. He, however, implored Government to protect local industry from unfair competition as the country opens up for business.

"Certainly we need to do more business with the rest of the world and we need investment but we are also saying as we open Zimbabwe let's keep in mind there are businesses that were open throughout this period," said Mr Jabangwe.

"As we engage other partners, can they come and engage local businesses so that we grow and share the cake because we do not want a situation where they come and side-line the existing businesses."

The coming in of the new dispensation last November has seen a renewed interest to invest in Zimbabwe by external investors.


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