Minister urges private sector to support Government

GROWING the economy is the Government's top priority and the private sector needs to play its part in increasing investor confidence so as to grow the national cake, Industry and Commerce Minister Mike Bimha has said.

Addressing delegates at the close of the Institute of Chartered Accountants of Zimbabwe (ICAZ)'s winter school held in Victoria Falls on Sunday, the minister said the Government alone cannot bring the desired economic turnaround without private sector backing.

"Indeed Government should continue to come up with policies that tell the world and demonstrate to everybody that Zimbabwe is ready for investment. We will continue to come up with such policies that support economic revival.

"I want to assure you that there is urgency in Government that we need to grow our economy and it is not Government that grows economy but the private sector. As the private sector you can only do so by working with the Government," said Minister Bimha.

He said chartered accountants (CAs) play a crucial role in managing financial volatilities in organisations and the economy at large.

Minister Bimha said it is only when every Zimbabwean takes ownership of the country's future needs that they start contributing to the

economy.

"The moment you take ownership and participate in the economy your contribution will be more meaningful. I commend your institution for taking that route.

"As the Government we welcome you and wish to be able to continue to communicate and keep close relations between the Government and your institution," he said.

The minister said the Government has been active in re-engaging different partners to steer the economy and hoped the initiatives would bear positive yields.

"Investors out there have to have confidence in Zimbabwe and no one can do this for us. We have to take the lead. We have to continue to engage and re-engage," he said.

Minister Bimha said the Government would continue to re-engage multilateral institutions to normalise relations in relation to the country's foreign debt of up to $10 billion and seek to open fresh lines of credit.

He said policies introduced by the Government require the private sector's contribution and support to buttress them on citizens.

The minister said the country was driving in the right direction as evidenced by the 50 points leap up the ladder in a 100 day assessment period.

The institute ushered in a new president Mrs Gloria Zvaravanhu who takes over from Mr Roy Chimanikire for the 2016-2017 year. In her acceptance speech Mrs Zvaravanhu implored members to take ownership of the institute.

"Today will remain unforgettable in my life as I stand before you to accept the mandate to serve our noble institute. We should take ownership of our corporate institute and deal with copyright issues. Let's all be significant and contribute for the CA brand," she said.

The conference started on Friday under the theme: "Taking ownership of our Zimbabwe's future."