Economists hail Cde Mnangagwa for pledging to work with International Community


By Siphathisiwe Mpofu

Economic Analysts have hailed Cde Emmerson Mnangagwa's pledge to reach out to the International community for the revival of the country's economy. Speaking on the programme "Hot Pot" on Star fm, Wednesday, Mr Persistence Gwanyanya said re-engaging International organisations is key to enable capital injections into the economy.
" What is important  at the moment is the confidence measures, measures that will rebuild confidence in the economy. Obviously we need capital it is a binding constraint to growth today. We need capital, we need to re-engage with the outside world, so the new leadership is expected to deliver in that front", said Mr Gwanyanya
Mr Vince Musewe said it is important to put in place policies and a conducive business environment  to attract foreign investment.
"The IMF does not invest in private businesses, let us be very clear, we need to attract private capital, that is business outside the country who want to do business in Zimbabwe. Why would companies want to invest in Zimbabwe currently? Obviously there has been political instability and a lot of uncertainty that people have not invested, but companies invest in countries where there are other successful businesses."
"So we need not to begin to really look for foreign direct investment until we have addressed the local issues. Until we have done that, let's not just expect people to rush to Zimbabwe because things have changed. We need vibrant businesses and they then network with overseas players who then are attracted to come and invest in Zimbabwe", Mr Musewe said.
Zimbweans are pinning their hope on the new government to turnaround the economy. Former Vice President Emmerson Mngangagwa who was recently elected Zanu PF party's first secretary and President by the party's Central Committee, will be sworn in as the President of Zimbabwe at the National Sports Stadium on Friday, following the resignation of Cde Robert Mugabe on Tuesday. Cde Mugabe had been at the helm for the past 37 years.

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