Second Republic tackles Resource Mobilisation hurdles in NDS1projects completion

by | Oct 2, 2023 | Business, Crime & Courts, International, Local News, Politics | 0 comments

Second Republic tackles Resource Mobilisation hurdles in NDS1 projects completion

Brian Rungano Temba

President Emmerson Mnangagwa officially opened the Zimbabwe Economic Development Conference (ZEDCON) at Elephant Hills, Victoria Falls today, where specialists from around the world met to find solutions for completing NDS1 projects.

This year’s ZEDCON is running under the theme “Public and Private Resource Mobilisation for Sustainable Development.”

Discussions are around solutions and recommendations in line with the broad themes such as;
Resource Mobilisation and Financing of NDS1; Leveraging the Informal Sector for Development; Enhancing the Role of the Private Sector; Inflation and Exchange Rate Dynamics.

The Zimbabwe Economic Development Conference (ZEDCON 2023), aims to bring together policy makers, industry representatives, civil society organisations, researchers, academia and other stake holders to discuss and deliberate new ideas and changes that have taken place in the Zimbabwean economy.

The outcome of the Zimbabwe Economic Development Conference (ZEDCON 2023) will provide evidence based policy advice that will contribute to the policy formulation of the 2024 Nation Budget and review the National Development Strategy NDS1

President Mnangagwa said that his government is interested in keeping projects running and reaching completion. He also noted that innovation is imperative for coping with the challenges faced.

“In order to sustain this momentum the Second Republic will continue to foster an environment which gives impetus to private sector led inclusive economic growth.

It is critically important to also maximise on innovative strategies to improve resource mobilisation by both public and private, for sustainable development,” said President Mnangagwa.

President Mnangagwa also tasked banks and other financial institutions to make it safer and more profitable to keep money in banks as this fed the pool of funds needed to stabilise the economy for steady growth and development.

“A stable and innovative domestic financial system which is well integrated with the rest of the economy, is indispensable in broadening financial inter-mediation and pooling domestic savings.

I, therefore, challenge the financial services sector to revert back to their core business of financial inter-mediation and providing incentives for savings by the general public, while at the same time channelling these savings to borrowers,” added President Mnangagwa.