Look East policy brings hope to Zim's economic challenges

It is motivating that a delegation of Chinese experts is in the country with the main objective of assessing and making a way forward in financing the mega deals that were signed between President Mugabe's government and the Chinese government in that Asian country in 2014.

For so long, detractors and prophets of doom have been blaming the Government that the Look East Policy was a weak policy which do not bring development to Zimbabwe. The recent visit by the Chinese experts, to make an evaluation on the mega deals, tells it that something positive and tangible is nearing.

A number of projects which entails the support of Chinese government are currently underway. China supplies Zimbabwe with expertise, technical assistance, and agricultural equipment, including tractors and other agro-processing equipment. The construction of ZESA Kariba South power extension project which is currently under construction with assistance of the Chinese.

 Upon completion, the project will witness an increase in the electricity production and an improved economy. Improved and increased power generation is one of the major objectives of the economic blue print, Zim-Asset. When there is enough and plenty of electricity in the country, there is no doubt that the industrial sector will revive. For that, the Chinese government should be commended for the positive support.

The close ties between Zimbabwe and China stemmed well back to the liberation struggle. China provided tangible support to Zimbabwe against its former colonialist, Britain. As of now, China relations with Zimbabwe include diplomatic support as well as economic deals.
 
There are quite a number of factors that are derailing the full implementation of Zim-Asset, with lack of funding and corruption being the major challenges. Lack of financial resources is prohibiting achieving the goals of Infrastructure and Utilities Cluster.

Corruption on its own scares away investors. Investors, both foreign and local enjoy operating in a free corrupt environment.

Implementation of mega deals, signed in 2014 between Tourism and Hospitality Industry Minister, Walter Mzembi and the National Tourism Administration of China, together with the agreement signed by Finance Minister Chinamasa on the provision of emergency food supplies will also assist in meeting the set goals of Zim-Asset.

Achievement of Zim-Asset will certainly lift the Zimbabwean flag to greater heights.

Early this year, China donated 5,400 metric tonnes of rice to Zimbabwe as a way of alleviating food shortages in the country. This food donation confirmed the strong support that China has for Zim-Asset, especially on the area of food security and agriculture.

It is worthy to note that when almost the whole of Africa is looking to the West, the West itself is actually looking to the East. As it stands the geopolitical order has shifted in favour of the East with such roaring economic giants such as China, India and Russia being some of the major players.

It is pleasing that India's  largest combine harvester and tractor's manufacturer Preet, is in the process of bargaining  a $100 million credit facility for Zimbabwe, a positive move that will assist farmers to purchase farming equipment at low cost, though it will be on credit. This initiative was revealed by Agro Innovations director, Tongai Saurombe.

Agro Innovations is a Zimbabwean company responsible for distribution of Preet farming equipment.

If there is available farming equipment plus good rainfalls the country will likely to regain its status as the breadbasket of Southern Africa. Farming can drastically change Zimbabwe's economy. Years back, the nation's economy was once anchored on agricultural based industries.

Apart from agreements on Landmark deals, China has also assisted Zimbabwe in construction of big hospitals such as Chinhoyi hospital. Also, in Mahusekwa, a classic referral hospital was constructed under the partnership of governments of Zimbabwe and China.

As much as Government is making efforts to improve the economic status, the private sector should also play an active role in reviving the economy. It is also necessary for parastatals such as ARDA, NRZ, ZESA and ZINWA to make huge efforts in revitalizing the ailing economy.  

It is also imperative for the responsible authorities to make continuous follow ups on all the signed Memorandums of Understanding (MoU).  This will assist in speeding up the implementation of the signed agreements between two governments. The signed landmark deals have been taking too long before execution. However, this delay has been a demotivating factor which took away all the confidence and hope that the majority has in the Look East Policy.

One would then wonder what exactly could be the impeding factors behind the set time of implementation of the signed memorandums.  

The visit of the Chinese experts is expected to see implementation of Zim-Asset programmes coming into reality, hence fulfilling the people's aspirations.