News / National
Mujuru urges govt, business sector to eliminate bureaucracy and embrace global trends
25 Apr 2013 at 05:09hrs | Views
VICE-President Joice Mujuru yesterday challenged Government and the business sector to eliminate bureaucracy and embrace global trends in order to maintain the economic revival momentum.
The country is in the process of reviving an economy that has been shattered by illegal economic sanctions imposed by the West.
In a keynote address at the 7th Zimbabwe International Business Conference held at the Zimbabwe International Trade Fair in Bulawayo, VP Mujuru said a successful turn- around of the economy hinged on originality and practical initiatives in development finance.
"I therefore encourage you to interact, network and discuss matters relating to the manner in which nations trade with each other.
"For instance, how do we deal with administrative issues that are supposed to be simple, but may be causing serious challenges that inhibit trade and investment, such as transit documentation? This is a very serious problem and we therefore need to attend to it," she said.
VP Mujuru urged the country to use its advantage of vast mineral deposits to gain an edge in the world markets.
She said the country could only benefit from its God-given resources if it stopped exporting them raw.
"A policy of value addition to our resources will not only see the country exporting unique products on the global markets, but will in the process allow the country to industrialise and create much needed employment for our educated people. This is what the American, European and Asian countries did and are still doing," she said.
VP Mujuru said it was critical for Zimbabweans to have an economic stake in the ownership of resources in the country as that was the reason for the war of liberation.
"However, we should not indigenise to destroy either industry, agriculture, the financial sector or any sector for that matter. We should demonstrate that Zimbabweans know how to do business and can build companies that compete on the global market," she said.
The VP appealed to banks and the financial sector to stop issuing short term loans saying such loans will not develop the economy.
"Some of these loans are not being used for the intended purpose. Instead they are financing luxury vehicles and fancy lifestyles which do not contribute to national debt servicing. I wish to encourage my fellow citizens to invest in production first and consume later," she said.
VP Mujuru said it was critical for the country's technical experts and business people to sift through trends brought about by globalisation and implement only the measures that would boost the economy.
"As we are all aware, globalisation has brought in good and bad, but the onus is upon us to implement the right measures that are good for our people. We need to embrace globalisation and at the same time appreciate solutions being proffered by the world."
She said recent global investment issues and possible solutions were focusing more on energy and the environment, going beyond the local areas, to regional and international dimensions.
VP Mujuru said world finance leaders, at the 2013 Spring Meetings of the International Monetary Fund and the World Bank, had noted that the recovery of the global economy was slow.
She said the leaders were seeking ways to boost economic growth and job creation and had put emphasis on measures that promoted more growth, rather than those that focused on trimming budget imbalances.
"In line with this policy recommendation, we need to promote more of those policies that promote growth, policies that seek to indigenise, empower, develop and create empowerment. This policy prescription applies to all economies with or without sanctions," said VP Mujuru.
She said all economic revival plans would come to naught as long as corruption was rampant and the country was not enjoying peace which President Mugabe called for in his speech at the country's 33rd independence celebrations last week.
"It is only peace that can allow us to unleash our talents, economic and technological potential.
"Corruption is a vice that destroys our economy and social fabric. National resources benefiting very few people breed conflict within our communities, so let us fight corruption by enforcing the law timeously and as a deterrent measure," said VP Mujuru.
The conference, held under the rallying call, "Building value and enhancing sustainable growth: the socio economic transformation of Zimbabwe," was attended by scores of business delegates from 17 countries.
The country is in the process of reviving an economy that has been shattered by illegal economic sanctions imposed by the West.
In a keynote address at the 7th Zimbabwe International Business Conference held at the Zimbabwe International Trade Fair in Bulawayo, VP Mujuru said a successful turn- around of the economy hinged on originality and practical initiatives in development finance.
"I therefore encourage you to interact, network and discuss matters relating to the manner in which nations trade with each other.
"For instance, how do we deal with administrative issues that are supposed to be simple, but may be causing serious challenges that inhibit trade and investment, such as transit documentation? This is a very serious problem and we therefore need to attend to it," she said.
VP Mujuru urged the country to use its advantage of vast mineral deposits to gain an edge in the world markets.
She said the country could only benefit from its God-given resources if it stopped exporting them raw.
"A policy of value addition to our resources will not only see the country exporting unique products on the global markets, but will in the process allow the country to industrialise and create much needed employment for our educated people. This is what the American, European and Asian countries did and are still doing," she said.
VP Mujuru said it was critical for Zimbabweans to have an economic stake in the ownership of resources in the country as that was the reason for the war of liberation.
"However, we should not indigenise to destroy either industry, agriculture, the financial sector or any sector for that matter. We should demonstrate that Zimbabweans know how to do business and can build companies that compete on the global market," she said.
The VP appealed to banks and the financial sector to stop issuing short term loans saying such loans will not develop the economy.
VP Mujuru said it was critical for the country's technical experts and business people to sift through trends brought about by globalisation and implement only the measures that would boost the economy.
"As we are all aware, globalisation has brought in good and bad, but the onus is upon us to implement the right measures that are good for our people. We need to embrace globalisation and at the same time appreciate solutions being proffered by the world."
She said recent global investment issues and possible solutions were focusing more on energy and the environment, going beyond the local areas, to regional and international dimensions.
VP Mujuru said world finance leaders, at the 2013 Spring Meetings of the International Monetary Fund and the World Bank, had noted that the recovery of the global economy was slow.
She said the leaders were seeking ways to boost economic growth and job creation and had put emphasis on measures that promoted more growth, rather than those that focused on trimming budget imbalances.
"In line with this policy recommendation, we need to promote more of those policies that promote growth, policies that seek to indigenise, empower, develop and create empowerment. This policy prescription applies to all economies with or without sanctions," said VP Mujuru.
She said all economic revival plans would come to naught as long as corruption was rampant and the country was not enjoying peace which President Mugabe called for in his speech at the country's 33rd independence celebrations last week.
"It is only peace that can allow us to unleash our talents, economic and technological potential.
"Corruption is a vice that destroys our economy and social fabric. National resources benefiting very few people breed conflict within our communities, so let us fight corruption by enforcing the law timeously and as a deterrent measure," said VP Mujuru.
The conference, held under the rallying call, "Building value and enhancing sustainable growth: the socio economic transformation of Zimbabwe," was attended by scores of business delegates from 17 countries.
Source - TC
