| INTRODUCTION | |
Zimbabwe recognises the importance of regional economic integration as a way towards the creation of new opportunities for the expansion of trade and investment. In this regard, Zimbabwe actively plays her part in the SADC region and directs her energies and efforts towards achieving tangible goals both politically and economically, jointly with other SADC Member States. To achieve these SADC goals, the country has crafted a number of policy initiatives to encourage and accelerate growth in the manufacturing and service sectors. Notable among these are the formulation of the National Export Strategy a plan on how Zimbabwe will access various export markets over a five-year period, the Small and Medium Enterprises (SME) Development Policy a policy that aims to integrate and accelerate growth of small and medium scale enterprises and the National Industrial Policy, a policy that aims at fostering the birth of new industries and growth of existing industries in the country. The country has immense potential for growth given the huge natural resource base, a highly educated and skilled workforce and access to regional markets. Recently the country discovered huge deposits of platinum. Platinum mining and processing will be an addition to the already vibrant mining sector. The country is endowed with a wide range of mineral resources including gold, nickel, diamonds, iron ore, copper and coal bed methane. Zimbabwe’s coal bed methane is the largest known reserve in Sub-Saharan Africa. At current levels of extraction, the country can continue to mine coal for a period of up to 5,500 years. Zimbabwe welcomes Foreign Direct Investment (FDI) into the mining and other sectors. The government has initiated the Public-Private Partnership Programme in order to promote economic growth and development. To support this position the government has put in place a number of incentives for investors and measures that create a conducive investment environment, which include among others tax breaks. These are mainly targeted at sectors with vast potential for growth. In addition, Zimbabwe has a strong manufacturing base and a diversified agricultural base. The country also boasts of exciting tourism resort centres. Zimbabwe together with other countries in the SADC region have abundant raw materials. We should strive to process these resources into finished goods for the consumption of our people. In so doing we increase our export base as a region and beyond. We have set the parameters that govern our regional trade through our Trade Protocol, but the challenge that most of us in the region face, is the need to make quality products that meet international standards. Our products face competition at home, in the regional market and the international markets. We can only beat this competition if we make quality products that are acceptable in all our markets. Zimbabwe guarantees legal protection for all its investors through its constitution, which guarantees the right to private property and prohibits expropriation of private property without adequate compensation. As testimony the country has signed a number of investment protection agreements. We fully realise that SADC is a building bloc to the realisation of the African Economic Community. The foundation that has been laid through the implementation of the Trade Protocol and indeed other protocols will assist in the process. We now need to ensure that we strengthen the process by refining implementation processes and procedures. Zimbabwe remains committed to the implementation of all the protocols under the SADC Treaty. Dr.
O.M. MPOFU (MP)
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