‘Govt needs to embrace US$100bn economy vision’

Business Council of Zimbabwe (BCZ) president George Guvamatanga said Government needs to embrace and adopt the vision for a US$100 billion economy by 2040 as a national imperative in order to set the economy on a sustainable growth path.

Report by Clive Mphambela

In an exclusive interview with businessdigest early this week, the recently elected BCZ boss outlined a set of nine broad economic imperatives that government, with the assistance of the private sector, should pursue, with the ultimate goal of ensuring the economy begins to register high and sustainable growth rates into the future.

The nine economic imperatives form the basis of BCZ’s submissions to the Minister of Finance for consideration in the 2013 national budget.

The themes, which the organisation also named the National Collaborative Imperatives begin with the adoption of one clear national vision of a US$100 billion GDP by 2040.

“One of our problems as a country is all our economic programmes since independence have been short-term in nature, rarely going beyond 5 years. We need to change that and say let’s start planning long-term. 90% of the economies that experienced high growth rates such as the Asian Tigers, and the more recently the Brics, started off with setting clear long term goals and then setting in motion clear programmes for executing that vision,” BCZ said.

“The second imperative is Execution, Execution, Execution , we need to become doers and execute on the agreed work plans in order to achieve growth.”

According to the BCZ blueprint, national confidence building is a key third cog in the wheel that will drive the economy’s new engine of growth.

The other economic imperatives are infrastructure development, financing of agriculture, improving the competitiveness and productivity of Zimbabwean industries, Value Addition, Economic Empowerment and Indigenisation and promoting the development of Economic Clusters.

BCZ is an apolitical private sector business organisation established for the purpose of economic and business policy advocacy. It comprises nine Business Member Organisations (BMOs) registered in Zimbabwe.

They are the Bankers Association of Zimbabwe (BAZ), Chamber of Mines of Zimbabwe (COMZ), Confederation of Zimbabwe Industries (CZI), Zimbabwe National Chamber of Commerce (ZNCC), Employers’ Confederation of Zimbabwe (EMCOZ), Commercial Farmers Union (CFU), Zimbabwe Commercial Farmers Union (ZCFU), Zimbabwe Farmers Union (ZFU) and Zimbabwe Council of Tourism (ZCT).