VICE President Dr Constantino Chiwenga yesterday applauded the massive investments and increased domestic production, especially in the mining sector, saying given the milestones achieved so far under the Second Republic, the targets set out under Vision 2030 were “within reach”.
Guided by the National Development Strategy (NDS1) blueprint, Zimbabwe is focused on transforming its economy to an upper middle-income status, and has since 2018, championed a series of comprehensive policy reforms.
These, coupled with renewed domestic business growth and the adoption of new technologies focused on scaling up export earnings, have enhanced the destination’s attractiveness to new investments in different sectors of the economy.
Greater strides have been achieved in the agriculture sector, leading to the restoration of food security with domestic manufacturing rebound yielding increased capacity utilisation and reclamation of more shelf space in shops by locally-produced goods, according to official industry reports.
Given the country’s rich and diverse mineral endowments, VP Chiwenga said the mining sector, in particular, has taken the lead in investment attraction and has a huge potential to steer robust economic growth.
He was speaking in Bulawayo while introducing President Mnangagwa who was the guest of honour at the official opening of the 26th Edition of the Mining, Engineering and Transport (Mine Entra) Expo, which has attracted the participation of local and foreign exhibitors.
“Allow me to say Vision 2030 is within reach, and we will achieve it together. We say a country is built by its own people, Nyika inovakwa nevene vayo/Ilizwe lakhiwa ngabanikazi balo,” said Dr Chiwenga.
“As we are all aware, Zimbabwe is richly endowed with God-given mineral resources, which are an envy to many.
“With the visionary leadership of our President, there is, therefore, no reason for our country not to transform itself into a middle-income economy.”
VP Chiwenga said under President Mnangagwa’s leadership Government’s policy reform initiatives have boosted investor appetite across the board with the mining sector leading in terms of significant developments in exploration, mining development, and local mineral beneficiation and value addition.
“This year’s conference is here following recent successive official commission by the President of the Republic of Zimbabwe, Dr Emerson Dambudzo Mnangagwa of two mines, that is, the Prospect Lithium Zimbabwe in Goromonzi, Mashonaland East Province.
“The minister has already talked about the Sabi Lithium in Buhera, Manicaland Province, and the Muchesu Coal Mine in the Binga Matabeleland North,” said Dr Chiwenga.
“I think in the mining industry we are seeing a great acceleration in the development of this industry far much faster than we anticipated before.”
These positive developments show that the mining sector is continuing to grow and is expected to play a major role in catalysing Zimbabwe to achieve Vision 2030, he added.
“As spelled out in the National Development Strategy 1, the Second Republic is projected to transform the economy to an upper middle-income economy by 2030 with per capita income of more than US$3 500,” said the VP.
“I am convinced that we are on course to achieve this projection as exhibited by the increase in mining production and Government efforts to promote beneficiation and value addition.”
Dr Chiwenga said the theme of this year’s Mine Entra Conference and Exhibition: “Accelerating Economic Transformation Through Mineral Beneficiation”, was more relevant in the context of a rapidly modernising global economy, where technological advancements, globalisation, and increased access to education and information are transforming lives and business modelling.
“I, therefore, call upon all the players in the mining sector to support such great leadership by thinking big and investing for sustainable growth, by becoming part of the positive transformation of our great country, Zimbabwe,” he said.
Meanwhile, Mines and Mining Development Minister, Zhemu Soda, said Zimbabwe has a higher potential for mineral beneficiation and reiterated that the US$12 billion mining milestone by the end of this year was still on track. He applauded the private sector for close collaboration with the Government to grow the sector.
Provincial permanent secretary, Mr Paul Nyoni, who was standing in for Bulawayo Provincial Affairs and Devolution Minister, Judith Ncube, said Mine Entra was a strategic platform for showcasing vast mining opportunities in Zimbabwe and that Bulawayo was well positioned to host potential investors in the mining value chain.
Zimbabwe International Trade Fair board chairperson, Mr Busisa Moyo, stressed the need for stakeholders to drive higher domestic mineral value addition and beneficiation to ensure Zimbabwe derives maximum benefit beyond exports of raw materials.
Chamber of Mines in Zimbabwe president Mr Thomas Gono paid tribute to President Mnangagwa for gracing the event saying his presence demonstrates national leadership commitment to developing the country.
Chronicle
