News / National
Zimbabwe goes for home-grown economic model
03 May 2018 at 06:56hrs | Views
ZIMBABWE is developing its own home-grown economic model and would not copy what other jurisdictions are doing, Vice President Dr Constantino Chiwenga, has said.
He said the adoption of Special Economic Zones (SEZs), was critical to the Government's economic turnaround efforts. SEZs are designated geographical regions that operate under special economic regulations that are different from other areas in the same country.
The initiative is meant to offer special conditions and incentives to enhance international competitiveness as well as bolstering industrial growth and development.
Responding to questions from the floor during the International Business Conference in Bulawayo last week, Dr Chiwenga said: "We are going to have a Zimbabwean economic model. We don't copy from anyone. What made this country an empire in those years is what we shall find out. We will discard
what we think was wrong and take what we think Zimbabwe should be.
"Why should we be copycats? We want to have a Zimbabwean economic model."
This was after delegates sought clarity on what economic model the new Government was basing its economic turnaround strategies. The gathering had asked if Zimbabwe was following the Chinese economic model or the western free market economy.
Government has said as it implements the SEZs concept among other strategies, the country would learn from other countries such as China and Rwanda on how they have implemented special economic zones.
It is hoped that SEZs would provide the required impetus to the country's economic recovery agenda by attracting foreign direct investment in the designated areas. Bulawayo, Sunway City in Harare, Victoria Falls and Tokwe Mukorsi, have been identified as pilot SEZs.
Dr Chiwenga said it was imperative for all stakeholders including individuals to contribute ideas to the type of economic model Zimbabwe should adopt.
Following the Land Reform programme adopted in 2000, Zimbabwe was slapped with economic sanctions that have had a negative impact to the country's economic growth.
The new political dispensation under President Emmerson Mnangagwa has since coming into power last November, been on a re-engagement drive to improve its relations with the international community after close to 20 years of isolation.
He said the adoption of Special Economic Zones (SEZs), was critical to the Government's economic turnaround efforts. SEZs are designated geographical regions that operate under special economic regulations that are different from other areas in the same country.
The initiative is meant to offer special conditions and incentives to enhance international competitiveness as well as bolstering industrial growth and development.
Responding to questions from the floor during the International Business Conference in Bulawayo last week, Dr Chiwenga said: "We are going to have a Zimbabwean economic model. We don't copy from anyone. What made this country an empire in those years is what we shall find out. We will discard
what we think was wrong and take what we think Zimbabwe should be.
"Why should we be copycats? We want to have a Zimbabwean economic model."
This was after delegates sought clarity on what economic model the new Government was basing its economic turnaround strategies. The gathering had asked if Zimbabwe was following the Chinese economic model or the western free market economy.
Government has said as it implements the SEZs concept among other strategies, the country would learn from other countries such as China and Rwanda on how they have implemented special economic zones.
It is hoped that SEZs would provide the required impetus to the country's economic recovery agenda by attracting foreign direct investment in the designated areas. Bulawayo, Sunway City in Harare, Victoria Falls and Tokwe Mukorsi, have been identified as pilot SEZs.
Dr Chiwenga said it was imperative for all stakeholders including individuals to contribute ideas to the type of economic model Zimbabwe should adopt.
Following the Land Reform programme adopted in 2000, Zimbabwe was slapped with economic sanctions that have had a negative impact to the country's economic growth.
The new political dispensation under President Emmerson Mnangagwa has since coming into power last November, been on a re-engagement drive to improve its relations with the international community after close to 20 years of isolation.
Source - chroncie
