30TH INDEPENDENCE ANNIVERSARY CELEBRATION STATEMENT

18th April 2010 marks 30th Anniversary of Zimbabwe’s independence. This celebration comes after the first Anniversary of the formation of the Inclusive Government in February 2009 following the signing of the Global Political Agreement by the three major political parties led by His Excellency President R.G. Mugabe, Honourable Prime Minister M.R. Tsvangirai and Honourable Deputy Prime Minister Professor A.G.O. Mutambara.

The formation of the Inclusive Government has ushered in a period of renewed hope as the country has witnessed the return of macro-economic and political stability which had eluded the country the last few years. With the assistance of the international community, the social services sector most notably education, health, provision of water and sanitation facilities as well as rehabilitation of supporting infrastructure has greatly improved and should be at normal operational levels soon.

This positive prevailing environment has raised further prospects for sustained economic recovery, growth and development. On the political front, the crafting of a new constitution which is already underway clearly demonstrates Zimbabwe’s commitment to establish a more prosperous and stable democracy and to buttress the gains of our struggle for independence.

In the economic field, the inclusive Government introduced the Short-Term Economic Recovery Programme (STERP) whose main thrust was to restore macro-economic stability. The results have been pleasing with an annual average inflation of -5,5% for the year 2009 and for 2010 inflation is expected to be at 5.1%. The economy was expected to grow by about 7% in 2009. Capacity utilization which stood at less than 10% is now between 30-50% with some companies especially in the food sector already between 60-80%.
This improved environment offers vast investment opportunities in the various sectors of the economy. Below are some highlights of actual/projected performance in the major section of the economy.

• The agricultural sector is expected to grow by 10% based on improved performance following financial assistance to farmers by government/financial institutions and support from regional and international cooperating partners. The greatest challenge though remains the weather patterns that can adversely affect production and performance of other sectors too.

• Manufacturing is projected to grow by 8% following the implementation of market-friendly stabilisation policies in the Short Term Economic Recovery Programme. These policies include the adoption of the multicurrency system, liberalization of the current account, removal of foreign exchange surrender requirements and price controls.

• The mining sector which was operating below capacity is showing signs of significant recovery in view of the measures introduced under the Short Term Recovery programme mentioned above. Growth is expected to be around 40% with substantial increases in platinum and gold production.

• Tourism which had experienced negative grown due to negative press coverage, compounded by the global recession is recovering following the return of macro-economic and political stability. Zimbabwe remains a safe and exciting tourist destination offering world class tourism attractions such as the Victoria Falls, Great Zimbabwe monument and renowned national parks. The World Cup being hosted by South Africa in June this year provides ample opportunity for sampling Zimbabwe’s hospitality.

As Zimbabwe strives to consolidate its macro-economic and political stability and achieves sustainable levels of growth and development, the country is acutely aware of the need to positively engage the international community. This is a process which the Inclusive Government is committed to and is actively pursuing with the full support of its friends.

To the entire readership, Zimbabwe should be your destination of choice as it offers you vast trade, investment and tourism opportunities.