HARARE - Zimbabwes economy has vast potential to rank among five of the biggest in the continent within the next 10 years according to economic analyst, Eric Bloch (pictured).This would only be achievable if a conducive and investment environment was created. There is need for restoring genuine law and order, human rights and property rights. We have potential in minerals and tourism. Near Lupane there is methane gas, there is so much opportunity. We have advanced minerals in the country which are underutilised and if these are tapped into, the economy will recover to match the strongest economies in the region, said Bloch.
At a mining indaba held in September, Prime Minister Morgan Tsvangirai said the government in conjunction with the mining industry could attract investment worth between US$6 million and US$16million. He said that would be possible by 2018.
With investments there will be massive growth but conflicting statements from people in government make potential investors take their investment elsewhere, said Bloch. Bloch also stressed the need for restoration of property and human rights.
Darlington Mutengwende, a Harare based independent economic analyst, said there was a need to identify and rectify challenges that led to the collapse of the two sectors. Zimbabwe used to be one of the best in terms of tourism and mining in the region before political instability started affecting the country, Mutengwende said. If the issue of political instability is not addressed, being among the biggest economies will remain a dream. We need total stability on the political front, we need to see real events happening so as to boost investor confidence.
Post published in: Agriculture