Gvt’s stance to mobilise resources for sustainable development hailed

Staff Reporter

Economic analysts have hailed government initiatives to mobilise resources for sustainable development.

Speaking on the sidelines of the on-going Zimbabwe Economic Development Conference (ZEDCON 2023) in Victoria Falls, economist, Marvis Makado reiterated Deputy Minister of Finance and Investment Promotion, David Mnangagwa’s speech, which pointed out the importance of shared knowledge between the private and public sectors as a creative way to expand and develop the country’s financial resources in a sustainable way.

“The country needs such collaborative platforms as this conference (ZEDCON 2023) where different financial stakeholders can brainstorm creative ideas to develop the economy. Government and public sector experts are able to mine ideas from the private sector’s input on finding sustainable ways of mobilising resources. In order for the Second Republic to continue developing the country’s infrastructure, lots of capital needs to be mobilised, and a stakeholder approach such as the one we are participating in right now should be normalised.

“The goal to achieve Vision 2030 needs a lot of financial resources and human capital. Discussions on this platform will fill in the gaps to continue building from the past successes of NDS1 while taking lessons from past mistakes. This platform will be utilised by different stakeholders to help fund government financial initiatives for future expenditures to develop the economy,” said Makado.

In his opening remarks, Minister Mnangagwa made it a point to highlight that the conference was a unique platform for achieving Vision 2030 goals.

“This will give us all an unrivalled opportunity to explore the current trends and innovations in financing development, and we hope to discuss the challenges and opportunities facing the economy as we implement National Development Strategy 1 (NDS1) and march towards achieving Vision 2030. We also need to find ways to scale up investments as laid out in the African Union Agenda 2063 and the Sustainable Development Goals (SDGs) while addressing the immediate and long-term challenges facing the economy,” he said.

Meanwhile, different views were contributed by different stakeholders, such as policymakers, the finance sector, development practitioners, the private sector, and the government, meant to help in the implementation of financial and economic sustainability in Zimbabwe. The main focus of the conference also includes providing solutions in areas such as inflation, exchange rates, and improving the economy of Zimbabwe.