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Saturday, June 22, 2024

NDS1 performance report to attract direct foreign investment

Story by Yolanda Moyo

THE National Development Strategy One performance report of the fourth quarter of the year 2022 reveals that the second republic has surpassed the targeted economic development set to attract foreign investment into the country.

This was revealed by Finance and Economic Development Minister, Professor Mthuli Ncube on the sidelines of a meeting held in Bulawayo this Friday to brief Cowdry Park residents on the economic strides made by the second republic.

“What we will do is share the NDS1 results with other organisations such as the world bank and with investors. Investors want to invest in countries that are making progress, that have got plans, and strategies to attract foreign direct investment as well as development finance.

“Often we write documents and make pronouncements and then we forget about these documents until the next plan is written, not this time around and not under President Mnangagwa, everything matters and the results matter what does not get measured does not get done,” he said.

Professor Ncube said the implementation of supportive government policies under the second republic has seen Zimbabwe’s capacity utilisation increase to 66 percent, the highest record in the last 30 years.

“Our industry has become more competitive and part of this has to do with the introduction of a Zimbabwean currency but also other policies that have given companies various incentives, availability of money through the auction.

“All this is aimed at making sure that our industry becomes competitive and the goods we consume will be made locally. The capacity utilisation is currently at 66 percent. 66 percent is a record high in 30 years,” he said.

The NDS1 programme was launched in October 2020 with its implementation commencing in 2021, under the 14 Thematic Working Groups that were created to drive the programme and achieve set targets.

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